Navios Maritime Partners (NYSE:NMM) Price Target Increased to $80.00 by Analysts at Jefferies Financial Group

Navios Maritime Partners (NYSE:NMM - Get Free Report) had its price target increased by Jefferies Financial Group from $65.00 to $80.00 in a report released on Thursday, Benzinga reports. The firm currently has a "buy" rating on the shipping company's stock. Jefferies Financial Group's price objective indicates a potential upside of 39.59% from the company's previous close.

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st.

Navios Maritime Partners Price Performance

NYSE:NMM traded up $2.64 during trading hours on Thursday, hitting $57.31. 379,573 shares of the company's stock traded hands, compared to its average volume of 176,310. Navios Maritime Partners has a 52 week low of $21.18 and a 52 week high of $57.57. The business's fifty day simple moving average is $49.85 and its two-hundred day simple moving average is $47.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.73 billion, a P/E ratio of 4.26 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.22. The firm had revenue of $342.20 million during the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.28%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $3.32 EPS. On average, research analysts anticipate that Navios Maritime Partners will post 14.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NMM. BNP Paribas Financial Markets grew its holdings in shares of Navios Maritime Partners by 30,700.0% during the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company's stock valued at $53,000 after purchasing an additional 1,228 shares during the last quarter. Westhampton Capital LLC bought a new position in shares of Navios Maritime Partners during the first quarter valued at about $241,000. Aristides Capital LLC purchased a new position in shares of Navios Maritime Partners in the first quarter worth about $361,000. Tactive Advisors LLC bought a new stake in shares of Navios Maritime Partners in the 1st quarter valued at about $442,000. Finally, Virtu Financial LLC purchased a new stake in Navios Maritime Partners during the 1st quarter valued at about $452,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.