Zacks Investment Research downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Pangaea Logistics Solutions Ltd. operates as a global logistics company. It provides seaborne drybulk transportation services. The Company provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. It provides dry bulk cargo transportation services for steel, aluminum, energy, agricultural, and other sectors. Pangaea Logistics Solutions Ltd. is headquartered in Newport, Rhode Island. “

Several other equities research analysts have also issued reports on PANL. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet raised shares of United States Lime & Minerals from a c+ rating to a b rating in a report on Wednesday, March 20th. Finally, Noble Financial set a $19.00 price target on shares of electroCore and gave the company a buy rating in a report on Friday, May 17th.

Shares of PANL stock opened at $3.48 on Thursday. Pangaea Logistics Solutions has a 1 year low of $2.78 and a 1 year high of $4.35. The business’s fifty day moving average is $3.44. The company has a market capitalization of $154.73 million, a price-to-earnings ratio of 6.57 and a beta of 0.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.64 and a quick ratio of 1.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Tuesday, May 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $79.54 million for the quarter, compared to analyst estimates of $81.00 million. Pangaea Logistics Solutions had a net margin of 4.59% and a return on equity of 9.66%. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities analysts anticipate that Pangaea Logistics Solutions will post 0.68 EPS for the current fiscal year.

An institutional investor recently raised its position in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP boosted its stake in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 37.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,547 shares of the shipping company’s stock after buying an additional 30,352 shares during the quarter. Dimensional Fund Advisors LP owned 0.25% of Pangaea Logistics Solutions worth $338,000 as of its most recent filing with the Securities and Exchange Commission. 26.10% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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