Genco Shipping (GNK) Receives a Buy from Jefferies

Jefferies analyst Randy Giveans maintained a Buy rating on Genco Shipping (GNKResearch Report) yesterday and set a price target of $18.00. The company’s shares closed last Tuesday at $14.20, close to its 52-week high of $14.46.

According to, Giveans is a 4-star analyst with an average return of 15.6% and a 51.5% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and Nordic American Tanker.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Genco Shipping with a $18.00 average price target, which is a 26.3% upside from current levels. In a report issued on April 18, Cleaves Securities also maintained a Buy rating on the stock with a $23.00 price target.

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Genco Shipping’s market cap is currently $592.2M and has a P/E ratio of -2.60. The company has a Price to Book ratio of 0.79.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNK in relation to earlier this year.

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Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It operates through the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels segment. The company was founded on September 27, 2004 and is headquartered in New York, NY.