Eagle Bulk Shipping (EGLE) Gets a Buy Rating from Cleaves Securities

Cleaves Securities analyst Joakim Hannisdahl maintained a Buy rating on Eagle Bulk Shipping (EGLE) on June 7 and set a price target of $60.00. The company’s shares closed last Tuesday at $50.85, close to its 52-week high of $53.59.

According to TipRanks.com, Hannisdahl is a 5-star analyst with an average return of 25.4% and a 64.4% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Avance Gas Holding.

Eagle Bulk Shipping has an analyst consensus of Strong Buy, with a price target consensus of $58.67, representing a 15.1% upside. In a report issued on June 3, Noble Financial also maintained a Buy rating on the stock with a $65.00 price target.

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The company has a one-year high of $53.59 and a one-year low of $13.61. Currently, Eagle Bulk Shipping has an average volume of 163.6K.

Based on the recent corporate insider activity of 21 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. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.

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