Zacks Investment Research upgraded shares of Navios Maritime Acquisition (NYSE:NNA) from a hold rating to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $8.50 target price on the shipping company’s stock.

According to Zacks, “Navios Maritime Acquisition Corporation provides marine transportation services. It is an owner and operator of tanker vessels focusing in the transportation of petroleum products and bulk liquid chemicals. The company focuses on chartering its vessels to international oil companies, refiners, and vessel operators under long, medium, and short-term charters. Navios Maritime Acquisition Corporation is headquartered in Piraeus, Greece. “

Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded Navios Maritime Acquisition from a sell rating to a hold rating in a research report on Monday, April 1st. Citigroup began coverage on Navios Maritime Acquisition in a research report on Monday, April 1st. They set a neutral rating on the stock.

Shares of NYSE:NNA traded up $0.19 during trading on Friday, reaching $7.74. 58,997 shares of the company’s stock traded hands, compared to its average volume of 40,818. Navios Maritime Acquisition has a fifty-two week low of $2.90 and a fifty-two week high of $11.70. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 3.04. The stock has a market capitalization of $102.79 million, a PE ratio of -1.02 and a beta of 2.73.

Navios Maritime Acquisition (NYSE:NNA) last posted its earnings results on Monday, May 13th. The shipping company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.67. Navios Maritime Acquisition had a negative return on equity of 15.04% and a negative net margin of 27.89%. The firm had revenue of $72.35 million for the quarter, compared to analysts’ expectations of $61.81 million. Sell-side analysts expect that Navios Maritime Acquisition will post -1.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.50%. The ex-dividend date of this dividend is Tuesday, May 28th. Navios Maritime Acquisition’s dividend payout ratio (DPR) is presently -15.83%.

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Navios Maritime Acquisition in the 1st quarter worth about $239,000. Dimensional Fund Advisors LP acquired a new stake in Navios Maritime Acquisition in the 1st quarter worth about $182,000. Finally, JPMorgan Chase & Co. boosted its holdings in Navios Maritime Acquisition by 1,798.8% in the 1st quarter. JPMorgan Chase & Co. now owns 7,975 shares of the shipping company’s stock worth $50,000 after buying an additional 7,555 shares during the last quarter. Hedge funds and other institutional investors own 7.01% of the company’s stock.

Navios Maritime Acquisition Company Profile

Navios Maritime Acquisition Corporation provides marine transportation services worldwide. The company owns a fleet of crude oil, refined petroleum product, and chemical tankers. It charters its vessels to oil companies, refiners, and large vessel operators under long, medium, and short term charters.

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