SEACOR Holdings, Inc. (CKH) Upgraded by Zacks Investment Research to “Buy”
SEACOR Holdings, Inc. (NYSE:CKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $41.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.58% from the stock’s current price.
According to Zacks, “SEACOR and its subsidiaries are engaged in the operation of a diversified fleet of offshore support vessels that service oil and gas exploration and development activities in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other international regions. Other business activities primarily include environmental services, inland river operations, and offshore aviation services. “
CKH has been the topic of several other research reports. Stifel Nicolaus set a $40.00 target price on SEACOR Holdings and gave the company a “buy” rating in a research report on Monday, August 7th. ValuEngine cut SEACOR Holdings from a “hold” rating to a “sell” rating in a research report on Friday, May 26th.
Shares of SEACOR Holdings (CKH) traded up 2.97% during trading on Tuesday, reaching $37.76. 155,378 shares of the company traded hands. The stock’s market cap is $669.48 million. The stock’s 50 day moving average price is $35.67 and its 200-day moving average price is $53.26. SEACOR Holdings has a 12 month low of $31.90 and a 12 month high of $76.32.
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In related news, Vice Chairman Oivind Lorentzen sold 53,208 shares of SEACOR Holdings stock in a transaction on Friday, June 9th. The stock was sold at an average price of $36.37, for a total transaction of $1,935,174.96. Following the sale, the insider now directly owns 72,934 shares in the company, valued at $2,652,609.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.47% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of SEACOR Holdings by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 1,790 shares of the oil and gas company’s stock worth $123,000 after buying an additional 50 shares during the period. First Trust Advisors LP acquired a new stake in shares of SEACOR Holdings during the first quarter worth approximately $323,000. Quantitative Investment Management LLC acquired a new stake in shares of SEACOR Holdings during the first quarter worth approximately $2,131,000. Schwab Charles Investment Management Inc. raised its stake in shares of SEACOR Holdings by 10.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 167,330 shares of the oil and gas company’s stock worth $11,578,000 after buying an additional 15,303 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of SEACOR Holdings by 2.2% in the first quarter. HighTower Advisors LLC now owns 28,410 shares of the oil and gas company’s stock worth $1,964,000 after buying an additional 609 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.
About SEACOR Holdings
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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