In a report released today, Poe Fratt from Noble Financial maintained a Buy rating on Eagle Bulk Shipping (EGLE), with a price target of $65.00. The company’s shares closed last Wednesday at $47.25, close to its 52-week high of $51.47.
According to TipRanks.com, Fratt is a top 100 analyst with an average return of 52.4% and a 59.6% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Grindrod Shipping Holdings, Energy Services of America, and Great Lakes Dredge & Dock.
Eagle Bulk Shipping has an analyst consensus of Strong Buy, with a price target consensus of $57.00.
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The company has a one-year high of $51.47 and a one-year low of $12.95. Currently, Eagle Bulk Shipping has an average volume of 161.2K.
Based on the recent corporate insider activity of 20 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.
