Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a report published on Sunday.

Several other equities research analysts also recently weighed in on PANL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Zacks Research downgraded Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

PANL opened at $6.79 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. Pangaea Logistics Solutions has a 12-month low of $3.93 and a 12-month high of $9.39. The firm has a 50 day moving average of $8.13 and a two-hundred day moving average of $6.75. The firm has a market capitalization of $443.52 million, a PE ratio of 21.90 and a beta of 0.77.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Tuesday, March 10th. The shipping company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $183.88 million during the quarter, compared to analysts’ expectations of $181.75 million. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%. On average, analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.05 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.9%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 64.52%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. LOM Asset Management Ltd acquired a new stake in Pangaea Logistics Solutions in the 4th quarter worth about $34,000. BNP Paribas Financial Markets lifted its position in shares of Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $53,000. Tower Research Capital LLC TRC boosted its stake in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,825 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter worth approximately $53,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.