In a report issued on February 13, Joakim Hannisdahl from Cleaves Securities maintained a Buy rating on Golden Ocean Group (GOGL), with a price target of $10.00. The company’s shares closed last Friday at $5.78, close to its 52-week high of $5.93.
According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 13.1% and a 60.1% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.
Currently, the analyst consensus on Golden Ocean Group is a Moderate Buy with an average price target of $8.50, which is a 51.2% upside from current levels. In a report issued on February 8, BTIG also maintained a Buy rating on the stock with a $7.00 price target.
See today’s analyst top recommended stocks >>
Based on Golden Ocean Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $186 million and net profit of $39.06 million. In comparison, last year the company earned revenue of $219 million and had a net profit of $36.7 million.
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.
Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The company manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
