DHT (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “

Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Co cut their price objective on shares of DHT from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 14th. Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of DHT in a research report on Thursday, August 9th. Morgan Stanley raised their price objective on shares of DHT from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Pareto Securities downgraded shares of DHT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, ValuEngine upgraded shares of DHT from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $5.46.

Shares of DHT stock opened at $4.68 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 1.33. The company has a market cap of $674.79 million, a price-to-earnings ratio of 36.00 and a beta of 0.51. DHT has a 12-month low of $3.27 and a 12-month high of $5.07.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, August 7th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). The firm had revenue of $34.44 million during the quarter, compared to the consensus estimate of $36.20 million. DHT had a negative net margin of 15.45% and a negative return on equity of 5.01%. On average, sell-side analysts anticipate that DHT will post -0.36 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of DHT in the second quarter valued at approximately $105,000. Odey Asset Management Group Ltd acquired a new stake in shares of DHT in the second quarter valued at approximately $350,000. Dimensional Fund Advisors LP raised its position in shares of DHT by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 7,808,667 shares of the shipping company’s stock valued at $36,623,000 after buying an additional 76,005 shares in the last quarter. Northern Trust Corp raised its position in shares of DHT by 4.1% in the second quarter. Northern Trust Corp now owns 2,783,759 shares of the shipping company’s stock valued at $13,056,000 after buying an additional 110,645 shares in the last quarter. Finally, DNB Asset Management AS acquired a new stake in shares of DHT in the third quarter valued at approximately $584,000. Institutional investors own 39.91% of the company’s stock.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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