SFL (NYSE:SFL) Stock Price Expected to Rise, BTIG Research Analyst Says

SFL (NYSE:SFL) had its target price hoisted by investment analysts at BTIG Research from $11.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target points to a potential upside of 18.17% from the company’s previous close.

A number of other research firms also recently commented on SFL. Wall Street Zen raised SFL from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SFL presently has an average rating of “Moderate Buy” and an average target price of $12.00.

SFL Price Performance

Shares of SFL stock traded up $1.03 during midday trading on Wednesday, reaching $10.16. 3,527,418 shares of the company were exchanged, compared to its average volume of 1,518,145. The company’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.10. The company has a market cap of $1.48 billion, a P/E ratio of -1,015.40 and a beta of 0.47. SFL has a 12 month low of $6.73 and a 12 month high of $10.84. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.42 and a current ratio of 0.42.

SFL (NYSE:SFL) last posted its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. During the same quarter in the prior year, the firm earned $0.15 earnings per share. SFL’s revenue for the quarter was down 23.1% compared to the same quarter last year.

Hedge Funds Weigh In On SFL

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after buying an additional 2,944 shares in the last quarter. Triumph Capital Management acquired a new stake in shares of SFL during the third quarter valued at approximately $32,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SFL in the 2nd quarter valued at approximately $50,000. Signaturefd LLC boosted its stake in SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock worth $47,000 after purchasing an additional 1,405 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new position in SFL during the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.