Okeanis Eco Tankers (NYSE:ECO) Lowered to “Hold” Rating by Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently commented on ECO. B. Riley Financial increased their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research note on Monday, May 25th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Hold” and an average target price of $51.89.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $56.77 on Monday. The business’s fifty day moving average is $52.57 and its two-hundred day moving average is $47.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. Okeanis Eco Tankers has a 52 week low of $22.38 and a 52 week high of $58.45. The firm has a market cap of $2.22 billion, a P/E ratio of 10.03 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The firm had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. Equities research analysts forecast that Okeanis Eco Tankers will post 9.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC acquired a new position in shares of Okeanis Eco Tankers during the 1st quarter worth about $3,541,000. Bank of America Corp DE raised its position in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after acquiring an additional 136,782 shares during the period. Royal Bank of Canada boosted its stake in Okeanis Eco Tankers by 29,762.5% during the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $121,000 after acquiring an additional 2,381 shares during the last quarter. Energy Income Partners LLC boosted its stake in Okeanis Eco Tankers by 3.4% during the 1st quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock worth $3,497,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers during the first quarter valued at approximately $778,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.