Okeanis Eco Tankers (NYSE:ECO) Stock Rating Upgraded by Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. B. Riley Financial increased their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.02.

Okeanis Eco Tankers Stock Performance

ECO stock opened at $56.71 on Tuesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 10.02 and a beta of 0.09. The firm has a 50-day simple moving average of $51.30 and a two-hundred day simple moving average of $43.39. Okeanis Eco Tankers has a one year low of $21.27 and a one year high of $58.45. 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 (NYSE:ECO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.74 by $0.59. The business had revenue of $170.17 million during the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. On average, equities analysts forecast that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently bought and sold shares of ECO. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000. Fifth Third Bancorp purchased a new position in shares of Okeanis Eco Tankers during the 1st quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $107,000.

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.