In a report released today, Randy Giveans from Jefferies maintained a Buy rating on Eagle Bulk Shipping (EGLE), with a price target of $38.00. The company’s shares closed last Wednesday at $35.58, close to its 52-week high of $40.91.
According to TipRanks.com, Giveans is a 4-star analyst with an average return of 13.0% and a 48.5% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and Nordic American Tanker.
Eagle Bulk Shipping has an analyst consensus of Strong Buy, with a price target consensus of $40.20, implying a 9.2% upside from current levels. In a report issued on March 15, Noble Financial also maintained a Buy rating on the stock with a $45.00 price target.
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Eagle Bulk Shipping’s market cap is currently $442.7M and has a P/E ratio of -11.40. The company has a Price to Book ratio of 1.02.
Based on the recent corporate insider activity of 17 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.
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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. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.
