Zacks Investment Research downgraded shares of DHT (NYSE:DHT) from a hold rating to a sell rating in a report issued 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. “

A number of other equities research analysts have also issued reports on the company. Pareto Securities upgraded DHT from a hold rating to a buy rating in a research note on Tuesday. ValuEngine lowered DHT from a buy rating to a hold rating in a research note on Sunday, December 31st. Jefferies Group began coverage on DHT in a research note on Monday, December 18th. They issued a buy rating and a $6.00 target price for the company. Maxim Group set a $7.00 target price on DHT and gave the company a buy rating in a research note on Monday, November 27th. Finally, TheStreet upgraded DHT from a d+ rating to a c- rating in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $6.00.

Shares of DHT (NYSE DHT) traded up $0.03 during trading hours on Tuesday, reaching $3.92. The company’s stock had a trading volume of 1,180,000 shares, compared to its average volume of 701,113. The firm has a market capitalization of $558.00, a price-to-earnings ratio of 12.25, a PEG ratio of 3.86 and a beta of 0.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.65 and a quick ratio of 1.65. DHT has a 12 month low of $3.52 and a 12 month high of $5.20.

DHT (NYSE:DHT) last announced its quarterly earnings results on Monday, November 13th. The shipping company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. DHT had a return on equity of 4.84% and a net margin of 9.68%. The company had revenue of $54.80 million during the quarter, compared to analyst estimates of $50.43 million. During the same period in the prior year, the firm posted ($0.81) earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. research analysts predict that DHT will post 0.19 EPS for the current year.

Several hedge funds have recently bought and sold shares of DHT. Voya Investment Management LLC boosted its holdings in DHT by 16.8% in the second quarter. Voya Investment Management LLC now owns 46,770 shares of the shipping company’s stock valued at $194,000 after purchasing an additional 6,737 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in DHT by 11.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 70,615 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 7,388 shares during the last quarter. California Public Employees Retirement System boosted its holdings in DHT by 2.2% in the second quarter. California Public Employees Retirement System now owns 691,858 shares of the shipping company’s stock valued at $2,871,000 after purchasing an additional 15,000 shares during the last quarter. Prudential Financial Inc. boosted its holdings in DHT by 1.7% in the third quarter. Prudential Financial Inc. now owns 980,540 shares of the shipping company’s stock valued at $3,903,000 after purchasing an additional 15,950 shares during the last quarter. Finally, Caxton Associates LP boosted its holdings in DHT by 25.0% in the second quarter. Caxton Associates LP now owns 250,000 shares of the shipping company’s stock valued at $1,038,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 35.70% of the company’s stock.

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DHT Company Profile

DHT Holdings, Inc is an independent crude oil tanker company. The Company’s fleet trades internationally and consists of crude oil tankers in the very large crude carriers (VLCC) and Aframax segments. As of December 1, 2017, the Company’s fleet consisted of 27 crude oil tankers in operation; 25 VLCCs, which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers, which are tankers ranging in size from 80,000 to 120,000 dwt.

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