Eagle Bulk Shipping (NASDAQ:EGLE) Rating Reiterated by Jefferies Financial Group

Eagle Bulk Shipping (NASDAQ:EGLE)‘s stock had its “buy” rating restated by equities researchers at Jefferies Financial Group in a research note issued on Friday, Benzinga reports. They presently have a $55.00 price target on the shipping company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 32.63% from the company’s previous close.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Eagle Bulk Shipping from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, October 19th. BTIG Research lowered their target price on Eagle Bulk Shipping from $70.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. StockNews.com started coverage on Eagle Bulk Shipping in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Alliance Global Partners decreased their target price on Eagle Bulk Shipping from $70.00 to $63.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.60.

Eagle Bulk Shipping Stock Performance

Shares of EGLE opened at $41.47 on Friday. The stock has a 50-day moving average of $42.11 and a two-hundred day moving average of $43.55. Eagle Bulk Shipping has a one year low of $39.15 and a one year high of $67.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.47 and a current ratio of 1.66. The stock has a market cap of $412.21 million, a P/E ratio of 5.37 and a beta of 1.32.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings results on Thursday, August 3rd. The shipping company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.69. Eagle Bulk Shipping had a return on equity of 17.05% and a net margin of 22.40%. The company had revenue of $75.94 million during the quarter, compared to analysts’ expectations of $72.76 million. As a group, research analysts predict that Eagle Bulk Shipping will post 0.93 EPS for the current year.

Insider Activity at Eagle Bulk Shipping

In related news, Director Justin A. Knowles purchased 1,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $44.68 per share, with a total value of $64,786.00. Following the completion of the acquisition, the director now owns 5,842 shares in the company, valued at $261,020.56. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Eagle Bulk Shipping

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its stake in Eagle Bulk Shipping by 481.2% during the third quarter. Nisa Investment Advisors LLC now owns 4,115 shares of the shipping company’s stock worth $173,000 after acquiring an additional 3,407 shares during the last quarter. Paradiem LLC increased its stake in Eagle Bulk Shipping by 14.1% during the third quarter. Paradiem LLC now owns 67,921 shares of the shipping company’s stock worth $2,855,000 after acquiring an additional 8,398 shares during the last quarter. Gratus Capital LLC increased its stake in Eagle Bulk Shipping by 0.4% during the third quarter. Gratus Capital LLC now owns 241,921 shares of the shipping company’s stock worth $10,168,000 after acquiring an additional 1,033 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Eagle Bulk Shipping by 10.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,067 shares of the shipping company’s stock worth $381,000 after acquiring an additional 831 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its stake in Eagle Bulk Shipping by 5.2% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 115,345 shares of the shipping company’s stock worth $4,848,000 after acquiring an additional 5,681 shares during the last quarter. Institutional investors and hedge funds own 89.69% 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, cement, and forest products. It serves miners, producers, traders, and end users.