Wall Street Zen Upgrades Dorian LPG (NYSE:LPG) to “Strong-Buy”

Dorian LPG (NYSE:LPG) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on LPG. Weiss Ratings restated a “buy (b-)” rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Stock Performance

Shares of LPG opened at $54.10 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. Dorian LPG has a one year low of $23.76 and a one year high of $59.97. The stock has a market cap of $2.31 billion, a P/E ratio of 7.17 and a beta of 0.57. The stock has a 50-day moving average of $53.86 and a two-hundred day moving average of $45.40.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.12 by $0.40. The business had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business’s quarterly revenue was up 123.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS.

Insider Activity at Dorian LPG

In other Dorian LPG news, insider Tim Hansen sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the completion of the transaction, the insider owned 107,675 shares in the company, valued at approximately $5,719,696. This represents a 31.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Theodore B. Young sold 11,919 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the completion of the transaction, the chief financial officer owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. This trade represents a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 106,000 shares of company stock worth $5,455,849. 13.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds have recently modified their holdings of LPG. Dimensional Fund Advisors LP increased its stake in shares of Dorian LPG by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock valued at $87,199,000 after purchasing an additional 73,754 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Dorian LPG during the first quarter worth approximately $11,929,000. Allspring Global Investments Holdings LLC boosted its position in Dorian LPG by 227.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after purchasing an additional 149,787 shares in the last quarter. Empowered Funds LLC grew its holdings in Dorian LPG by 117.5% in the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock valued at $6,738,000 after purchasing an additional 106,428 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Dorian LPG by 2,540.0% in the first quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock valued at $6,513,000 after purchasing an additional 183,232 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

Dorian LPG Company Profile

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.