Eagle Bulk Shipping (NASDAQ:EGLE) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the shipping company’s stock.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $55.00 price target (up previously from $54.00) on shares of Eagle Bulk Shipping in a research report on Friday, January 26th. B. Riley raised their price target on shares of Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a report on Monday, March 4th. BTIG Research restated a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Friday, January 5th. Jefferies Financial Group reiterated a “hold” rating and set a $55.00 price objective on shares of Eagle Bulk Shipping in a research report on Wednesday, January 31st. Finally, Alliance Global Partners reaffirmed a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.75.

Eagle Bulk Shipping Price Performance

NASDAQ EGLE remained flat at $62.60 during trading hours on Thursday. The stock’s 50 day moving average is $62.55 and its two-hundred day moving average is $54.36. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. Eagle Bulk Shipping has a one year low of $39.15 and a one year high of $65.09. The stock has a market capitalization of $692.98 million, a price-to-earnings ratio of 40.92 and a beta of 1.49.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Monday, March 4th. The shipping company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.38. The firm had revenue of $104.59 million during the quarter, compared to the consensus estimate of $76.16 million. Eagle Bulk Shipping had a net margin of 5.77% and a return on equity of 4.62%. On average, equities analysts anticipate that Eagle Bulk Shipping will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Eagle Bulk Shipping

In other Eagle Bulk Shipping news, major shareholder Castor Maritime Inc. bought 69,635 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average price of $62.65 per share, for a total transaction of $4,362,632.75. Following the acquisition, the insider now directly owns 1,461,135 shares of the company’s stock, valued at approximately $91,540,107.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Eagle Bulk Shipping

Institutional investors have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. purchased a new position in Eagle Bulk Shipping during the 4th quarter worth $161,000. Quantbot Technologies LP increased its stake in Eagle Bulk Shipping by 62.1% in the 3rd quarter. Quantbot Technologies LP now owns 3,593 shares of the shipping company’s stock valued at $151,000 after buying an additional 1,376 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Eagle Bulk Shipping by 481.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,115 shares of the shipping company’s stock worth $173,000 after buying an additional 3,407 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth approximately $286,000. Finally, SG Americas Securities LLC bought a new position in shares of Eagle Bulk Shipping in the fourth quarter valued at approximately $383,000. Institutional investors own 70.60% of the company’s stock.

About Eagle Bulk Shipping

Eagle Bulk Shipping Inc 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 iron ore, coal, grains, fertilizers, steel products, petcoke, and cement. It serves miners, producers, traders, and end users.