Zacks Investment Research upgraded shares of Dorian LPG Ltd. (NYSE:LPG) from a hold rating to a buy rating in a report released on Friday. Zacks Investment Research currently has $8.25 price target on the shipping company’s stock.
According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “
Other equities research analysts also recently issued reports about the company. DNB Markets downgraded Dorian LPG from a buy rating to a hold rating in a report on Friday, October 27th. BidaskClub downgraded Dorian LPG from a hold rating to a sell rating in a report on Friday, July 28th. Finally, ValuEngine downgraded Dorian LPG from a hold rating to a sell rating in a report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $8.75.
Dorian LPG (NYSE:LPG) opened at $7.84 on Friday. Dorian LPG has a 1 year low of $5.76 and a 1 year high of $12.50. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.70.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.02. Dorian LPG had a negative return on equity of 4.04% and a negative net margin of 7.30%. The company had revenue of $34.73 million during the quarter, compared to the consensus estimate of $31.13 million. During the same period last year, the company earned ($0.25) earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. equities research analysts anticipate that Dorian LPG will post -0.76 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of LPG. Russell Investments Group Ltd. bought a new stake in Dorian LPG in the first quarter worth approximately $235,000. Bank of New York Mellon Corp grew its stake in Dorian LPG by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 73,254 shares of the shipping company’s stock valued at $772,000 after acquiring an additional 11,034 shares during the period. Parametric Portfolio Associates LLC grew its stake in Dorian LPG by 177.1% in the first quarter. Parametric Portfolio Associates LLC now owns 91,434 shares of the shipping company’s stock valued at $963,000 after acquiring an additional 58,440 shares during the period. Prudential Financial Inc. grew its stake in Dorian LPG by 37.0% in the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock valued at $2,099,000 after acquiring an additional 53,800 shares during the period. Finally, American International Group Inc. grew its stake in Dorian LPG by 7.1% in the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after acquiring an additional 987 shares during the period. Institutional investors and hedge funds own 45.38% of the company’s stock.
Dorian LPG Company Profile
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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