Seacor (CKH) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Seacor (NYSE:CKH) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $53.00 target price on the oil and gas company’s stock.
According to Zacks, “SEACOR Holdings Inc. is a diversified holding company principally focused on domestic and international transportation, logistics, and risk management consultancy. SEACOR provides its customers with highly responsive services focused on innovative technology, modern efficient equipment, and dedicated, highly trained professionals. As the parent company of a global, diversified family of companies, SEACOR has the ability to utilize its subsidiaries’ assets to provide customers with the highest level of service within the industries in which it operates. SEACOR also maintains strategic joint venture arrangements in various geographic locations around the world, enhancing its existing business lines while satisfying specific customer requirements with resources such as logistical support, assets, and personnel. SEACOR engages in the operation of a fleet of offshore vessels in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other regions. “
A number of other equities analysts have also weighed in on CKH. Credit Suisse Group increased their target price on shares of Seacor from $36.00 to $43.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. Stifel Nicolaus lowered shares of Seacor from a buy rating to a hold rating and increased their target price for the stock from $40.00 to $53.00 in a research report on Monday, November 6th. Finally, TheStreet upgraded shares of Seacor from a d+ rating to a c- rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $49.67.
Seacor (NYSE CKH) opened at $49.15 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 2.07 and a debt-to-equity ratio of 0.89. The firm has a market cap of $863.86, a PE ratio of -7.94 and a beta of 1.08. Seacor has a 1 year low of $30.44 and a 1 year high of $51.59.
In other news, CFO Bruce Weins sold 2,569 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $49.00, for a total value of $125,881.00. Following the completion of the transaction, the chief financial officer now directly owns 12,708 shares in the company, valued at $622,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Oivind Lorentzen sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the completion of the transaction, the insider now owns 41,175 shares of the company’s stock, valued at $2,064,926.25. The disclosure for this sale can be found here. Insiders have sold 118,487 shares of company stock valued at $5,950,235 in the last quarter. Company insiders own 10.47% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Seacor in the third quarter valued at approximately $111,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Seacor by 3.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,800 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 120 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Seacor by 45.3% in the second quarter. BNP Paribas Arbitrage SA now owns 5,114 shares of the oil and gas company’s stock valued at $175,000 after acquiring an additional 1,594 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Seacor in the third quarter valued at approximately $241,000. Finally, Pacad Investment Ltd. bought a new position in shares of Seacor in the second quarter valued at approximately $185,000. Institutional investors own 92.01% of the company’s stock.
SEACOR Holdings Inc, is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company’s segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products.
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