Euronav (NYSE:EURN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Euronav (NYSE:EURNGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “

Several other equities analysts have also recently issued reports on EURN. Jefferies Financial Group cut Euronav from a buy rating to a hold rating and lowered their price objective for the company from $13.00 to $12.00 in a research report on Wednesday, April 27th. StockNews.com assumed coverage on shares of Euronav in a report on Thursday, March 31st. They issued a sell rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $12.67.

Shares of EURN stock opened at $11.33 on Wednesday. The business has a fifty day simple moving average of $11.35 and a 200 day simple moving average of $10.19. Euronav has a twelve month low of $7.55 and a twelve month high of $13.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.92.

Several hedge funds have recently bought and sold shares of EURN. Samalin Investment Counsel LLC purchased a new position in Euronav during the 4th quarter valued at about $40,000. Wells Fargo & Company MN grew its position in Euronav by 47.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,701 shares of the shipping company’s stock worth $69,000 after acquiring an additional 2,481 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Euronav by 38.9% during the first quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock valued at $126,000 after acquiring an additional 3,335 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Euronav during the fourth quarter valued at $131,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Euronav in the first quarter worth about $133,000. Institutional investors own 45.67% of the company’s stock.

About Euronav (Get Rating)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

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