Shares of Gener8 Maritime Inc (NYSE:GNRT) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.50.
GNRT has been the subject of a number of research reports. Jefferies Group initiated coverage on Gener8 Maritime in a report on Monday, December 18th. They set a “buy” rating and a $10.00 target price for the company. UBS cut Gener8 Maritime from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $6.50 to $6.75 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Citigroup cut Gener8 Maritime from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. Morgan Stanley boosted their target price on Gener8 Maritime from $5.50 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Finally, DNB Markets upgraded Gener8 Maritime from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th.
Shares of Gener8 Maritime stock opened at $5.91 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.93. Gener8 Maritime has a fifty-two week low of $4.17 and a fifty-two week high of $6.94. The stock has a market capitalization of $492.11, a PE ratio of -2.91 and a beta of 1.09.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Gener8 Maritime by 11.0% during the 2nd quarter. State Street Corp now owns 1,069,056 shares of the shipping company’s stock worth $6,080,000 after acquiring an additional 106,359 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Gener8 Maritime during the 4th quarter worth approximately $1,982,000. Parametric Portfolio Associates LLC lifted its position in Gener8 Maritime by 78.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 136,684 shares of the shipping company’s stock worth $778,000 after acquiring an additional 60,271 shares in the last quarter. Royce & Associates LP lifted its position in Gener8 Maritime by 13.6% during the 4th quarter. Royce & Associates LP now owns 1,091,389 shares of the shipping company’s stock worth $7,225,000 after acquiring an additional 130,863 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Gener8 Maritime by 10.5% during the 2nd quarter. Northern Trust Corp now owns 838,560 shares of the shipping company’s stock worth $4,771,000 after acquiring an additional 79,942 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
About Gener8 Maritime
Gener8 Maritime, Inc is a provider of international seaborne crude oil transportation services. The Company operates through the transportation of international seaborne crude oil and petroleum products with its fleet of vessels segment. As of March 10, 2017, the Company owned a fleet of 40 tankers on the water, consisting of 24 Very Large Crude Carriers (VLCCs), 10 Suezmax vessels, four Aframax vessels and two Panamax vessels, with an aggregate carrying capacity of 9.4 million deadweight tons (DWT) and one eco VLCC newbuilding.
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