Tidewater Stock Downgraded to 'Sell' by StockNews.com Amidst Varied Brokerage Views

Marine support services provider Tidewater Inc. TDW received a downgrade from analysts at StockNews.com, altering the firm's investment rating from a 'hold' to a 'sell'. The reevaluation of Tidewater's financial outlook was issued in a research note published on Friday.

Analyst Ratings and Price Targets

Differing opinions from other brokers have shaped the overall market perception of Tidewater. Notably, Raymond James initiated coverage on Tidewater's shares with a 'strong-buy' rating and set a price target of $85.00 on July 13th. Subsequently, BTIG Research raised their price target on Tidewater from $75.00 to $91.00 and maintained a 'buy' rating for the stock on September 20th. Despite StockNews.com's downgrade, an array of analysts have offered a more optimistic stance: one has suggested a 'sell' rating, two recommend a 'buy', and one expresses a 'strong buy' position. MarketBeat's data indicates a 'Moderate Buy' consensus for Tidewater with a price target averaging $88.67.

Company's Market Performance

The day the downgrade was announced, TDW opened at $60.35. Holding a market capitalization of approximately $3.19 billion, Tidewater operates with a price-to-earnings (P/E) ratio of 45.38 and a beta of 1.33. Its debt-to-equity ratio stands at 0.62, accompanied by liquidity metrics such as a quick ratio of 1.88 and a current ratio of 1.73. Tidewater's stock has fluctuated between a fifty-two-week low of $28.14 and a high of $73.55, with its 50-day and 200-day simple moving averages at $67.82 and $58.25 respectively.

Insider Transactions

Recent insider activity has seen Director Robert Robotti purchase 1,486 shares at an average price of $67.32, totaling $100,037.52. This acquisition increased Robotti's direct ownership to 3,235,657 shares, valued roughly at $217.8 million. On the executives' sale front, CFO Samuel R. Rubio parted with 21,788 shares at an average price of $62.37, amounting to a deal worth over $1.35 million. These ownership changes have been fully disclosed in filings with the Securities and Exchange Commission (SEC).

Institutional Investment Influence

In recent times, institutional investors and hedge funds have adjusted their stakes in TDW. Slate Path Capital LP acquired a new Tidewater position valued at $40.9 million. Renaissance Technologies LLC upped its ownership by 112.4%, now holding 758,283 shares worth roughly $33.4 million. Similarly, Millennium Management LLC expanded its Tidewater holdings by a staggering 867.1%, currently owning shares valued at $11.2 million. Dimensional Fund Advisors LP, another key institutional player, increased its holding by 16.9%, with its shares in Tidewater now totaling $80.4 million. Lastly, Tejara Capital Ltd entered into the fray with a fresh investment in TDW valued at $9.3 million. Overall, institutional investors possess 84.19% of Tidewater's stock.

Corporate Profile of Tidewater

Tidewater Inc. provides vital offshore support vessels and associated marine services, crucial for the offshore energy sector. Operating a fleet of marine service vessels globally, the company primarily supports crude oil and natural gas exploration, development, and production. They also engage in windfarm development and maintenance activities, offering services including towing, supply transportation, offshore construction, seismic and subsea support among other specialized services such as laying pipes and cables, emphasizing the diverse nature of their operations.

Tidewater, Downgrade, StockNews