Safe Bulkers (SB) Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Magnus Fyhr initiated coverage with a Buy rating on Safe Bulkers (SBResearch Report) today and set a price target of $6.50. The company’s shares closed last Friday at $4.13, close to its 52-week high of $4.46.

According to TipRanks.com, Fyhr has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -4.7% and a 35.5% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Performance Shipping.

Currently, the analyst consensus on Safe Bulkers is a Moderate Buy with an average price target of $6.50.

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Safe Bulkers’ market cap is currently $493.5M and has a P/E ratio of 8.40. The company has a Price to Book ratio of 0.89.

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Safe Bulkers, Inc. is a holding company, which engages in the ownership and operation of dry bulk vessels. It also offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels. The company was founded on December 11, 2007 and is headquartered in Athens, Greece.