Dorian LPG (NYSE:LPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $9.50 target price on the shipping company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 17.28% from the stock’s current price.

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. “

LPG has been the subject of several other reports. ValuEngine upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. DNB Markets cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.17.

Shares of Dorian LPG (LPG) opened at $8.10 on Thursday. Dorian LPG has a 1-year low of $6.20 and a 1-year high of $12.50. The stock has a market capitalization of $446.43, a P/E ratio of -38.57 and a beta of 1.20. 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 issued its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Dorian LPG had a negative return on equity of 4.06% and a negative net margin of 7.30%. The company had revenue of $34.73 million during the quarter, compared to analysts’ expectations of $31.13 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. equities research analysts expect that Dorian LPG will post -0.66 EPS for the current year.

In related news, Director Christina Tan purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $70,000.00. Following the completion of the purchase, the director now owns 39,475 shares in the company, valued at approximately $276,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in shares of Dorian LPG in the third quarter valued at approximately $120,000. Voya Investment Management LLC boosted its stake 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 buying an additional 2,763 shares during the period. SG Americas Securities LLC acquired a new position in Dorian LPG during the third quarter valued at approximately $199,000. Alliancebernstein L.P. raised its position in Dorian LPG by 24.4% during 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 in the last quarter. Finally, Numeric Investors LLC raised its position in Dorian LPG by 24.1% during 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 in the last quarter. Institutional investors and hedge funds own 47.71% of the company’s stock.

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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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