After B.Riley FBR and BTIG gave Scorpio Bulkers (NYSE: SALT) a Buy rating last month, the company received another Buy, this time from Cleaves Securities. Analyst Joakim Hannisdahl maintained a Buy rating on Scorpio Bulkers yesterday and set a price target of $40.00. The company’s shares closed last Monday at $28.00.
According to TipRanks.com, Hannisdahl is a 3-star analyst with an average return of 1.1% and a 54.1% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Scorpio Bulkers with a $49.17 average price target, representing an 82.1% upside. In a report issued on April 17, B.Riley FBR also maintained a Buy rating on the stock with a $40.00 price target.
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Scorpio Bulkers’ market cap is currently $190M and has a P/E ratio of 4.10. The company has a Price to Book ratio of 0.22.
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Scorpio Bulkers, Inc. engages in the provision of ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. It operates through the Ultramax Operations and Kamsarmax Operations segments. The Ultramax Operations segment includes vessels ranging from approximately 60,200 dwt to 64,000 dwt. The Kamsarmax Operations segment deals with essels ranging from approximately 82,000 dwt to 84,000 dwt. The company was founded by Emanuele A. Lauro and Robert L. Bugbee on March 20, 2013 and is headquartered in Monaco.
