Dorian LPG (LPG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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. “

A number of other equities research analysts have also issued reports on the stock. DNB Markets lowered shares of Dorian LPG from a buy rating to a hold rating in a report on Friday, October 27th. ValuEngine lowered shares of Dorian LPG from a hold rating to a sell rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $8.75.

Shares of Dorian LPG (LPG) opened at $8.22 on Wednesday. Dorian LPG has a 1-year low of $6.20 and a 1-year high of $12.50. The stock has a market cap of $453.05, a price-to-earnings ratio of -39.14 and a beta of 1.19. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Dorian LPG (NYSE:LPG) last released its earnings results 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 net margin of 7.30% and a negative return on equity of 4.06%. The business had revenue of $34.73 million during the quarter, compared to analyst estimates of $31.13 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts forecast that Dorian LPG will post -0.66 EPS for the current fiscal year.

In other news, Director Christina Tan acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $7.00 per share, with a total value of $70,000.00. Following the completion of the acquisition, the director now owns 39,475 shares of the company’s stock, valued at approximately $276,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC grew its holdings in shares of Dorian LPG by 21.3% in the second quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 2,763 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Dorian LPG in the third quarter valued at about $120,000. Alliancebernstein L.P. grew its holdings in shares of Dorian LPG by 24.4% in the second quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock valued at $238,000 after purchasing an additional 5,700 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Dorian LPG in the third quarter valued at about $199,000. Finally, Numeric Investors LLC grew its holdings in shares of Dorian LPG by 24.1% in the second quarter. Numeric Investors LLC now owns 55,087 shares of the shipping company’s stock valued at $451,000 after purchasing an additional 10,693 shares during the period. 47.71% of the stock is owned by hedge funds and other institutional investors.

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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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