Evercore ISI reiterated their buy rating on shares of Euronav (NYSE:EURN) in a research report sent to investors on Monday, AnalystRatings.com reports. The brokerage currently has a $16.00 price target on the shipping company’s stock.

A number of other brokerages also recently issued reports on EURN. ValuEngine downgraded Euronav from a buy rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Euronav from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Finally, TheStreet raised Euronav from a d+ rating to a c- rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.86.

NYSE:EURN traded up $0.23 during trading hours on Monday, reaching $7.70. 5,887 shares of the company were exchanged, compared to its average volume of 317,183. The firm has a market capitalization of $1.71 billion, a P/E ratio of -11.85 and a beta of 0.96. Euronav has a 1-year low of $6.77 and a 1-year high of $10.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The firm has a 50 day moving average of $8.76.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Euronav during the fourth quarter worth $30,706,000. MARSHALL WACE ASIA Ltd lifted its stake in Euronav by 12.8% during the first quarter. MARSHALL WACE ASIA Ltd now owns 2,718,735 shares of the shipping company’s stock worth $22,158,000 after purchasing an additional 308,432 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Euronav by 25.7% during the first quarter. Deprince Race & Zollo Inc. now owns 2,141,638 shares of the shipping company’s stock worth $17,454,000 after purchasing an additional 438,133 shares during the last quarter. Deutsche Bank AG lifted its stake in Euronav by 29.8% during the fourth quarter. Deutsche Bank AG now owns 1,987,696 shares of the shipping company’s stock worth $13,773,000 after purchasing an additional 456,406 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Euronav by 249.5% during the second quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock worth $15,202,000 after purchasing an additional 1,153,365 shares during the last quarter. Hedge funds and other institutional investors own 29.93% of the company’s stock.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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Analyst Recommendations for Euronav (NYSE:EURN)

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