Euronav (NYSE:EURN) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently commented on EURN. Zacks Investment Research cut Euronav from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Pareto Securities raised Euronav from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Wells Fargo & Co dropped their price objective on Euronav from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 14th. JPMorgan Chase & Co. increased their price objective on Euronav from $9.00 to $9.50 and gave the company a “neutral” rating in a research report on Friday, August 10th. Finally, BTIG Research began coverage on Euronav in a research report on Thursday, September 27th. They set a “buy” rating and a $12.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $10.31.

Shares of NYSE:EURN opened at $8.20 on Monday. Euronav has a 1-year low of $7.50 and a 1-year high of $10.10. The company has a quick ratio of 1.49, a current ratio of 1.51 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.42 billion, a PE ratio of -91.11 and a beta of 0.35.

A number of large investors have recently made changes to their positions in the business. BlueMountain Capital Management LLC purchased a new position in Euronav in the second quarter worth about $52,471,000. FMR LLC boosted its position in Euronav by 43.5% in the second quarter. FMR LLC now owns 4,357,144 shares of the shipping company’s stock worth $40,053,000 after purchasing an additional 1,320,660 shares during the last quarter. BlackRock Inc. boosted its position in Euronav by 1,003,395.9% in the second quarter. BlackRock Inc. now owns 3,883,529 shares of the shipping company’s stock worth $35,729,000 after purchasing an additional 3,883,142 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Euronav by 218.8% in the third quarter. Frontier Capital Management Co. LLC now owns 2,322,920 shares of the shipping company’s stock worth $20,209,000 after purchasing an additional 1,594,170 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Euronav by 1,778.4% in the second quarter. Marshall Wace LLP now owns 987,658 shares of the shipping company’s stock worth $9,077,000 after purchasing an additional 935,077 shares during the last quarter. 45.98% of the stock is currently owned by institutional investors and hedge funds.

About Euronav

Euronav NV, together with its subsidiaries, engages in 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 March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Euronav (NYSE:EURN)

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