In a report released yesterday, Poe Fratt from Noble Financial maintained a Buy rating on Eagle Bulk Shipping Inc (EGLE), with a price target of $6.40. The company’s shares closed yesterday at $4.58.
According to TipRanks.com, Fratt is ranked #4042 out of 5220 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Bulk Shipping Inc with a $6.13 average price target, which is a 33.8% upside from current levels. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $7 price target.
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Based on Eagle Bulk Shipping Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $6.49 million. In comparison, last year the company had a GAAP net loss of $16.58 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EGLE in relation to earlier this year.
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Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.
