Zacks Investment Research upgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $8.50 price target on the shipping company’s stock.

According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “

Separately, ValuEngine upgraded Dorian LPG from a hold rating to a buy rating in a research note on Tuesday, October 2nd.

Shares of LPG traded up $0.05 during midday trading on Wednesday, hitting $7.90. 159,375 shares of the stock traded hands, compared to its average volume of 138,650. Dorian LPG has a 1-year low of $6.87 and a 1-year high of $8.80. The company has a market cap of $432.98 million, a price-to-earnings ratio of -12.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.22 and a current ratio of 1.25.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Thursday, August 9th. The shipping company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.19). The company had revenue of $27.64 million during the quarter, compared to analyst estimates of $36.89 million. Dorian LPG had a negative return on equity of 4.90% and a negative net margin of 23.51%. Analysts predict that Dorian LPG will post -0.96 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. United Services Automobile Association raised its holdings in Dorian LPG by 17.5% in the 2nd quarter. United Services Automobile Association now owns 566,167 shares of the shipping company’s stock valued at $4,326,000 after acquiring an additional 84,210 shares in the last quarter. Northern Trust Corp raised its holdings in Dorian LPG by 22.2% in the 2nd quarter. Northern Trust Corp now owns 341,398 shares of the shipping company’s stock valued at $2,609,000 after acquiring an additional 62,055 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Dorian LPG by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 102,979 shares of the shipping company’s stock valued at $787,000 after acquiring an additional 7,278 shares in the last quarter. California Public Employees Retirement System raised its holdings in Dorian LPG by 8.1% in the 2nd quarter. California Public Employees Retirement System now owns 98,748 shares of the shipping company’s stock valued at $754,000 after acquiring an additional 7,420 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Dorian LPG by 10.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,849,056 shares of the shipping company’s stock valued at $21,767,000 after acquiring an additional 272,934 shares in the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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