Pangaea Logistics Solutions (PANL) Upgraded to “Hold” by Zacks Investment Research

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Pangaea Logistics Solutions Ltd. operates as a global logistics company. It provides seaborne drybulk transportation services. The Company provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. It provides dry bulk cargo transportation services for steel, aluminum, energy, agricultural, and other sectors. Pangaea Logistics Solutions Ltd. is headquartered in Newport, Rhode Island. “

A number of other analysts have also recently commented on the stock. Noble Financial reaffirmed a “buy” rating and set a $5.50 price target on shares of Pangaea Logistics Solutions in a research report on Tuesday, November 13th. ValuEngine cut shares of Pangaea Logistics Solutions from a “sell” rating to a “strong sell” rating in a research report on Friday, December 21st. Finally, TheStreet cut shares of Pangaea Logistics Solutions from a “b-” rating to a “c+” rating in a research report on Wednesday, November 21st.

NASDAQ PANL opened at $3.01 on Friday. The firm has a market capitalization of $128.18 million, a P/E ratio of 7.92 and a beta of 0.22. Pangaea Logistics Solutions has a twelve month low of $2.13 and a twelve month high of $3.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.25.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Friday, November 9th. The shipping company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The company had revenue of $95.35 million during the quarter, compared to analyst estimates of $120.45 million. Pangaea Logistics Solutions had a net margin of 6.00% and a return on equity of 10.59%. On average, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.5 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Pangaea Logistics Solutions stock. Renaissance Technologies LLC purchased a new stake in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,600 shares of the shipping company’s stock, valued at approximately $111,000. Renaissance Technologies LLC owned about 0.07% of Pangaea Logistics Solutions at the end of the most recent quarter. 27.08% of the stock is currently owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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