Star Bulk Carriers Corp. (SBLK) Upgraded by BidaskClub to “Hold”
Star Bulk Carriers Corp. (NASDAQ:SBLK) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
A number of other research analysts have also issued reports on the company. TheStreet upgraded Star Bulk Carriers Corp. from a “d+” rating to a “c” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers Corp. and gave the company a “hold” rating in a report on Sunday, May 28th. Seaport Global Securities raised Star Bulk Carriers Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.50 to $13.00 in a report on Friday, May 26th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Star Bulk Carriers Corp. in a report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.50.
Shares of Star Bulk Carriers Corp. (SBLK) traded up 3.10% during midday trading on Monday, hitting $10.63. The company had a trading volume of 845,115 shares. The firm’s market capitalization is $673.26 million. The company has a 50-day moving average of $9.82 and a 200 day moving average of $9.54. Star Bulk Carriers Corp. has a 12 month low of $4.00 and a 12 month high of $13.40.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last released its earnings results on Wednesday, May 24th. The shipping company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $64.87 million during the quarter, compared to analyst estimates of $64.27 million. Star Bulk Carriers Corp. had a negative return on equity of 5.59% and a negative net margin of 36.90%. On average, analysts expect that Star Bulk Carriers Corp. will post ($0.46) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the company. Investment Centers of America Inc. acquired a new stake in shares of Star Bulk Carriers Corp. during the first quarter worth about $118,000. KCG Holdings Inc. acquired a new stake in shares of Star Bulk Carriers Corp. during the first quarter worth about $140,000. Renaissance Technologies LLC increased its stake in shares of Star Bulk Carriers Corp. by 233.3% in the first quarter. Renaissance Technologies LLC now owns 576,599 shares of the shipping company’s stock worth $6,850,000 after buying an additional 403,619 shares during the period. Impala Asset Management LLC acquired a new stake in shares of Star Bulk Carriers Corp. during the first quarter worth about $6,639,000. Finally, Bogle Investment Management L P DE acquired a new stake in shares of Star Bulk Carriers Corp. during the first quarter worth about $1,889,000. 75.14% of the stock is owned by institutional investors.
Star Bulk Carriers Corp. Company Profile
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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