DHT Holdings, Inc. (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, October 25th.
According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “
A number of other equities research analysts also recently commented on DHT. Stifel Nicolaus reaffirmed a “hold” rating and issued a $5.25 target price on shares of DHT Holdings in a research report on Friday, July 7th. BidaskClub downgraded shares of DHT Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Maxim Group set a $7.00 price objective on shares of DHT Holdings and gave the company a “buy” rating in a research report on Thursday, August 3rd. ValuEngine downgraded shares of DHT Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “buy” rating on shares of DHT Holdings in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. DHT Holdings presently has an average rating of “Hold” and a consensus price target of $6.00.
DHT Holdings (DHT) traded down $0.05 during trading hours on Wednesday, reaching $3.97. 467,600 shares of the company’s stock were exchanged, compared to its average volume of 510,848. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.75 and a current ratio of 1.75. DHT Holdings has a fifty-two week low of $3.44 and a fifty-two week high of $5.20. The company has a market cap of $565.12, a P/E ratio of 8.63, a PEG ratio of 4.86 and a beta of 0.95.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in shares of DHT Holdings by 1.1% during the 1st quarter. Legal & General Group Plc now owns 24,683 shares of the shipping company’s stock valued at $110,000 after buying an additional 260 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of DHT Holdings during the 1st quarter valued at $111,000. Bank of America Corp DE lifted its stake in shares of DHT Holdings by 87.1% during the 1st quarter. Bank of America Corp DE now owns 26,646 shares of the shipping company’s stock valued at $119,000 after buying an additional 12,407 shares in the last quarter. Wellington Management Group LLP purchased a new stake in DHT Holdings in the 1st quarter worth $146,000. Finally, SG Americas Securities LLC lifted its stake in DHT Holdings by 4.0% in the 1st quarter. SG Americas Securities LLC now owns 35,667 shares of the shipping company’s stock worth $159,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors own 33.56% of the company’s stock.
About DHT Holdings
DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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