Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other research firms also recently commented on EGLE. Noble Financial set a $6.00 price objective on Eagle Bulk Shipping and gave the company a “buy” rating in a report on Thursday, August 9th. DNB Markets initiated coverage on Eagle Bulk Shipping in a report on Monday, June 18th. They issued a “buy” rating on the stock. Maxim Group reiterated a “hold” rating and issued a $6.00 price objective on shares of Eagle Bulk Shipping in a report on Wednesday, May 9th. BidaskClub downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Friday, July 13th. Finally, Evercore ISI initiated coverage on Eagle Bulk Shipping in a report on Tuesday, May 29th. They issued an “outperform” rating and a $7.50 price objective on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Eagle Bulk Shipping has a consensus rating of “Hold” and an average price target of $6.58.

Shares of EGLE traded down $0.03 during mid-day trading on Tuesday, reaching $4.98. The company’s stock had a trading volume of 215,300 shares, compared to its average volume of 371,773. Eagle Bulk Shipping has a 12-month low of $4.18 and a 12-month high of $6.14. The company has a market cap of $365.92 million, a P/E ratio of -11.86 and a beta of 2.23. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.48 and a current ratio of 2.76.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Eagle Bulk Shipping had a negative net margin of 8.00% and a negative return on equity of 1.79%. The business had revenue of $57.73 million during the quarter, compared to analysts’ expectations of $57.76 million. analysts predict that Eagle Bulk Shipping will post 0.2 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Eagle Bulk Shipping by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,017 shares of the shipping company’s stock worth $658,000 after buying an additional 21,947 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Eagle Bulk Shipping by 319.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock worth $146,000 after buying an additional 20,514 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Eagle Bulk Shipping by 162.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock worth $232,000 after buying an additional 26,441 shares during the last quarter. Bank of America Corp DE grew its stake in Eagle Bulk Shipping by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 584,217 shares of the shipping company’s stock worth $3,179,000 after buying an additional 10,288 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Eagle Bulk Shipping by 101.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,226,284 shares of the shipping company’s stock worth $6,671,000 after buying an additional 618,884 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.

Read More: Market Capitalization – What it Means for Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.