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

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

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $55.00 price target (up from $54.00) on shares of Eagle Bulk Shipping in a research note on Friday, January 26th. B. Riley lifted their price target on Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a research note on Monday, March 4th. BTIG Research reiterated a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Friday, January 5th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Eagle Bulk Shipping has an average rating of “Hold” and a consensus price target of $56.75.

Eagle Bulk Shipping Stock Performance

Shares of NASDAQ EGLE opened at $62.60 on Wednesday. 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 current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55. Eagle Bulk Shipping has a 1-year low of $39.15 and a 1-year high of $65.09. The stock’s 50-day moving average is $61.72 and its 200 day moving average is $53.40.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Monday, March 4th. The shipping company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. The company had revenue of $104.59 million for 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%. On average, sell-side analysts anticipate that Eagle Bulk Shipping will post 4.86 EPS for the current fiscal year.

Insider Activity at Eagle Bulk Shipping

In other news, major shareholder Castor Maritime Inc. purchased 69,635 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average cost of $62.65 per share, for a total transaction of $4,362,632.75. Following the completion of the transaction, the insider now directly owns 1,461,135 shares of the company’s stock, valued at approximately $91,540,107.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eagle Bulk Shipping

Hedge funds have recently made changes to their positions in the company. PenderFund Capital Management Ltd. bought a new stake in shares of Eagle Bulk Shipping during the fourth quarter valued at approximately $161,000. Quantbot Technologies LP raised its stake in Eagle Bulk Shipping by 62.1% during 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. Nisa Investment Advisors LLC raised 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 valued at $173,000 after buying an additional 3,407 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Eagle Bulk Shipping during the third quarter valued at $286,000. Finally, SG Americas Securities LLC purchased a new position in Eagle Bulk Shipping during the fourth quarter valued at $383,000. 70.60% of the stock is currently owned by institutional investors.

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.