In a report issued on March 6, Liam Burke from B.Riley FBR maintained a Buy rating on Eagle Bulk Shipping (EGLE), with a price target of $6.00. The company’s shares closed last Monday at $2.88, close to its 52-week low of $2.56.
According to TipRanks.com, Burke is ranked 0 out of 5 stars with an average return of -9.0% and a 35.4% success rate. Burke covers the Services sector, focusing on stocks such as Matthews International, Nordic American Tanker, and Golar LNG Partners.
Currently, the analyst consensus on Eagle Bulk Shipping is a Moderate Buy with an average price target of $5.18, implying an 89.7% upside from current levels. In a report issued on March 6, Noble Financial also maintained a Buy rating on the stock with a $6.40 price target.
See today’s analyst top recommended stocks >>
Based on Eagle Bulk Shipping’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $11.17 million. In comparison, last year the company had a net profit of $6.49 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGLE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
