DHT (NYSE:DHT) Rating Increased to Buy at Wall Street Zen

DHT (NYSE:DHT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also commented on DHT. BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a report on Wednesday, October 8th. Zacks Research raised shares of DHT to a “hold” rating in a research report on Monday, August 11th. Jefferies Financial Group reissued a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. Finally, Evercore ISI increased their price objective on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.18.

DHT Stock Performance

Shares of DHT opened at $13.09 on Monday. The firm has a market cap of $2.10 billion, a P/E ratio of 10.56 and a beta of -0.01. DHT has a twelve month low of $8.67 and a twelve month high of $13.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.96 and a current ratio of 2.33. The firm’s 50 day moving average price is $12.61 and its two-hundred day moving average price is $11.90.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.18%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. On average, analysts forecast that DHT will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On DHT

Hedge funds have recently bought and sold shares of the company. Roble Belko & Company Inc acquired a new stake in shares of DHT in the second quarter valued at approximately $30,000. CWM LLC raised its stake in DHT by 223.4% in the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 2,116 shares during the period. Federated Hermes Inc. lifted its holdings in DHT by 101.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in DHT by 190.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 1,982 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in DHT by 344.1% during the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after purchasing an additional 2,450 shares during the period. 58.53% of the stock is currently owned by institutional investors and hedge funds.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.