Zacks Investment Research Lowers Dorian LPG Ltd. (LPG) to Sell
Dorian LPG Ltd. (NYSE:LPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
Several other analysts have also issued reports on the stock. BidaskClub lowered shares of Dorian LPG from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. ValuEngine upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. UBS AG set a $8.00 target price on shares of Dorian LPG and gave the stock a “buy” rating in a research note on Saturday, June 17th. Finally, Pareto Securities upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Dorian LPG currently has an average rating of “Hold” and a consensus price target of $10.00.
Shares of Dorian LPG (LPG) remained flat at $6.64 during mid-day trading on Tuesday. 99,860 shares of the company’s stock were exchanged. The firm’s market cap is $359.06 million. The stock has a 50-day moving average of $7.68 and a 200-day moving average of $8.95. Dorian LPG has a 12 month low of $5.07 and a 12 month high of $12.50.
Dorian LPG (NYSE:LPG) last posted its earnings results on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. The firm had revenue of $41 million during the quarter, compared to analyst estimates of $37.65 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was down 17.6% compared to the same quarter last year. On average, equities analysts anticipate that Dorian LPG will post ($0.44) EPS for the current fiscal year.
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In related news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $7.55, for a total value of $1,887,500.00. Following the transaction, the insider now directly owns 2,037,020 shares of the company’s stock, valued at approximately $15,379,501. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 26.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Dorian LPG by 8.2% in the fourth quarter. State Street Corp now owns 351,876 shares of the shipping company’s stock worth $2,891,000 after buying an additional 26,556 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Dorian LPG by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,415 shares of the shipping company’s stock worth $8,477,000 after buying an additional 75,733 shares during the period. Nationwide Fund Advisors increased its position in shares of Dorian LPG by 29.5% in the first quarter. Nationwide Fund Advisors now owns 25,457 shares of the shipping company’s stock worth $268,000 after buying an additional 5,793 shares during the period. Acadian Asset Management LLC bought a new position in shares of Dorian LPG during the first quarter worth $1,126,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Dorian LPG during the first quarter worth $235,000. 48.38% of the stock is currently owned by institutional investors.
About Dorian LPG
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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