Noble Financial analyst Poe Fratt maintained a Buy rating on Pangaea Logistics Solutions (PANL) today and set a price target of $5.50. The company’s shares closed last Friday at $2.76.
According to TipRanks.com, Fratt is ranked 0 out of 5 stars with an average return of -8.0% and a 46.0% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Grindrod Shipping Holdings, and Great Lakes Dredge & Dock.
Currently, the analyst consensus on Pangaea Logistics Solutions is a Moderate Buy with an average price target of $5.50.
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Based on Pangaea Logistics Solutions’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $70.4 million and net profit of $3.01 million. In comparison, last year the company earned revenue of $83.29 million and had a net profit of $4.03 million.
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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne drybulk logistics and transportation services. It operates a fleet of Supramax, Panamax, and Handymax vessels. The company was founded by Edward Coll, Carl Claus Boggild, and Anthony Laura on April 29, 2014 and is headquartered in Newport, RI.