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

Analysts at StockNews.com started coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a report released on Friday. The firm set a “sell” rating on the shipping company’s stock.

EGLE has been the topic of several other reports. B. Riley lifted their target price on shares of Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Alliance Global Partners restated a “neutral” rating on shares of Eagle Bulk Shipping in a report on Monday, February 26th. 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. Finally, Jefferies Financial Group reissued a “hold” rating and set a $55.00 target price on shares of Eagle Bulk Shipping in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.75.

Eagle Bulk Shipping Price Performance

EGLE stock opened at $62.60 on Friday. Eagle Bulk Shipping has a 1 year low of $39.15 and a 1 year high of $65.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.77. The stock has a market cap of $692.98 million, a price-to-earnings ratio of 40.92 and a beta of 1.49. The company has a 50 day simple moving average of $62.71 and a 200 day simple moving average of $54.91.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Eagle Bulk Shipping

A number of hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Eagle Bulk Shipping by 4,753.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,279 shares of the shipping company’s stock worth $726,000 after purchasing an additional 16,923 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Eagle Bulk Shipping by 3.8% during the third quarter. American Century Companies Inc. now owns 167,004 shares of the shipping company’s stock valued at $7,019,000 after buying an additional 6,110 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Eagle Bulk Shipping by 118.7% during the third quarter. Los Angeles Capital Management LLC now owns 30,256 shares of the shipping company’s stock worth $1,272,000 after acquiring an additional 16,420 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Eagle Bulk Shipping in the 4th quarter worth about $383,000. Finally, Boston Partners lifted its position in Eagle Bulk Shipping by 10.1% in the 3rd quarter. Boston Partners now owns 17,793 shares of the shipping company’s stock valued at $748,000 after acquiring an additional 1,632 shares in the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

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.