Equities research analysts at BTIG Research started coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a research report issued to clients and investors on Monday, PriceTargets.com reports. The firm set a “buy” rating and a $28.00 price target on the shipping company’s stock. BTIG Research’s target price suggests a potential upside of 19.40% from the stock’s current price.
Several other brokerages also recently issued reports on EGLE. Jefferies Financial Group raised their price target on Eagle Bulk Shipping from $21.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 29th. Noble Financial reaffirmed a “buy” rating and set a $30.00 price target on shares of Eagle Bulk Shipping in a report on Wednesday, December 30th. B. Riley cut their price target on Eagle Bulk Shipping from $31.50 to $27.25 and set a “buy” rating for the company in a report on Wednesday, January 20th. Finally, Zacks Investment Research raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, January 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.00.
NASDAQ EGLE opened at $23.45 on Monday. The company has a market cap of $258.28 million, a PE ratio of -5.19 and a beta of 1.46. The company has a current ratio of 1.40, a quick ratio of 1.27 and a debt-to-equity ratio of 1.03. Eagle Bulk Shipping has a 12 month low of $8.89 and a 12 month high of $25.90. The stock has a 50 day moving average of $20.62 and a 200-day moving average of $18.26.
In related news, major shareholder Goldentree Asset Management Lp sold 3,400 shares of the firm’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $23.82, for a total value of $80,988.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary Vogel purchased 8,287 shares of the firm’s stock in a transaction that occurred on Friday, December 18th. The stock was bought at an average price of $18.10 per share, for a total transaction of $149,994.70. Following the transaction, the chief executive officer now directly owns 168,124 shares of the company’s stock, valued at approximately $3,043,044.40. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EGLE. First Trust Advisors LP bought a new position in shares of Eagle Bulk Shipping in the third quarter worth $456,000. BlackRock Inc. increased its position in shares of Eagle Bulk Shipping by 4.5% in the fourth quarter. BlackRock Inc. now owns 565,581 shares of the shipping company’s stock worth $10,746,000 after purchasing an additional 24,528 shares during the period. GSA Capital Partners LLP bought a new position in shares of Eagle Bulk Shipping in the fourth quarter worth $433,000. Bank of America Corp DE increased its position in shares of Eagle Bulk Shipping by 2.0% in the second quarter. Bank of America Corp DE now owns 593,196 shares of the shipping company’s stock worth $1,299,000 after purchasing an additional 11,710 shares during the period. Finally, Sippican Capital Advisors bought a new position in shares of Eagle Bulk Shipping in the fourth quarter worth $211,000. Institutional investors own 78.32% of the company’s stock.
Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping Inc, through its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including coal, grains, iron ore, fertilizers, steel products, petcoke, cement, and forest products.
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