Eagle Bulk Shipping (NASDAQ:EGLE) Research Coverage Started at StockNews.com

Research analysts at StockNews.com started coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a report issued on Wednesday. The brokerage set a “sell” rating on the shipping company’s stock.

A number of other analysts also recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $55.00 price target (up from $54.00) on shares of Eagle Bulk Shipping in a report on Friday, January 26th. BTIG Research reissued a “neutral” rating on shares of Eagle Bulk Shipping in a report on Friday, January 5th. Alliance Global Partners reissued a “neutral” rating on shares of Eagle Bulk Shipping in a report on Monday, February 26th. B. Riley increased 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. Finally, Jefferies Financial Group reissued a “hold” rating and set a $55.00 price target on shares of Eagle Bulk Shipping in a report on Wednesday, January 31st. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.75.

Eagle Bulk Shipping Price Performance

EGLE stock opened at $62.60 on Wednesday. The firm’s fifty day simple moving average is $61.72 and its 200-day simple moving average is $53.40. The company has a market capitalization of $692.98 million, a P/E ratio of 40.92 and a beta of 1.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.77. Eagle Bulk Shipping has a 12 month low of $39.15 and a 12 month high of $65.09.

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

Insider Buying and Selling at Eagle Bulk Shipping

In related news, major shareholder Castor Maritime Inc. acquired 69,635 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were acquired at an average cost of $62.65 per share, with a total value of $4,362,632.75. Following the completion of the acquisition, the insider now directly owns 1,461,135 shares in the company, valued at approximately $91,540,107.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Eagle Bulk Shipping

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP raised its position in shares of Eagle Bulk Shipping by 62.1% in the third 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. PenderFund Capital Management Ltd. acquired a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $161,000. Nisa Investment Advisors LLC raised its position in shares of Eagle Bulk Shipping by 481.2% in the third quarter. Nisa Investment Advisors LLC now owns 4,115 shares of the shipping company’s stock valued at $173,000 after buying an additional 3,407 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Eagle Bulk Shipping in the third quarter valued at about $286,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Eagle Bulk Shipping by 10.1% in the third quarter. Exchange Traded Concepts LLC now owns 9,067 shares of the shipping company’s stock valued at $381,000 after buying an additional 831 shares during the last quarter. 70.60% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bulk Shipping Company Profile

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.