SFL (NYSE:SFL) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of SFL (NYSE:SFL) from a hold rating to a buy rating in a research note released on Saturday.

Several other analysts have also recently commented on the company. BTIG Research raised their price target on SFL from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SFL in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Price Performance

Shares of SFL opened at $12.44 on Friday. SFL has a twelve month low of $6.73 and a twelve month high of $12.94. The stock’s 50 day moving average is $11.49 and its two-hundred day moving average is $11.13. The firm has a market capitalization of $1.80 billion, a PE ratio of 51.84 and a beta of 0.43. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.84.

Institutional Trading of SFL

A number of institutional investors have recently added to or reduced their stakes in SFL. Fearnley Asset Management AS acquired a new position in SFL during the fourth quarter worth about $2,596,000. Trexquant Investment LP acquired a new stake in shares of SFL during the 4th quarter valued at approximately $2,280,000. Credit Agricole S A acquired a new stake in shares of SFL during the 3rd quarter valued at approximately $2,064,000. Dimensional Fund Advisors LP boosted its stake in shares of SFL by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company’s stock worth $95,007,000 after acquiring an additional 244,621 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SFL by 7.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company’s stock worth $23,380,000 after acquiring an additional 188,441 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.