Star Bulk Carriers (NASDAQ:SBLK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $15.00 target price on the shipping company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.04% from the stock’s current price.
According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “
Other equities research analysts also recently issued research reports about the stock. Seaport Global Securities set a $16.00 target price on shares of Star Bulk Carriers and gave the stock a “buy” rating in a research note on Wednesday, February 28th. BidaskClub upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Stifel Nicolaus upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, April 23rd. TheStreet upgraded shares of Star Bulk Carriers from a “d+” rating to a “c” rating in a research note on Friday, March 2nd. Finally, ValuEngine upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Star Bulk Carriers presently has an average rating of “Buy” and an average price target of $15.42.
Shares of SBLK opened at $13.27 on Thursday. Star Bulk Carriers has a fifty-two week low of $7.61 and a fifty-two week high of $14.25. The stock has a market cap of $861.58 million, a PE ratio of -60.32 and a beta of 2.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.43 and a quick ratio of 1.34.
Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, February 27th. The shipping company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Star Bulk Carriers had a negative net margin of 2.94% and a negative return on equity of 0.44%. The business had revenue of $107.71 million during the quarter, compared to the consensus estimate of $107.10 million. sell-side analysts anticipate that Star Bulk Carriers will post 1.13 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Atlantic Trust Group LLC lifted its position in Star Bulk Carriers by 79.0% in the first quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 4,132 shares during the period. Jump Trading LLC acquired a new stake in Star Bulk Carriers in the first quarter valued at about $128,000. Capital Fund Management S.A. acquired a new stake in Star Bulk Carriers in the fourth quarter valued at about $145,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Star Bulk Carriers in the first quarter valued at about $162,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Star Bulk Carriers in the first quarter valued at about $180,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of February 27, 2018, the company had a fleet of 72 vessels with an aggregate capacity of approximately 7.8 million deadweight ton (dwt); and had contracts for 2 additional newbuilding vessels with an aggregate capacity of approximately 416,000 dwt.
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