Dorian LPG Ltd (LPG) Upgraded to “Buy” at Zacks Investment Research
Dorian LPG Ltd (NYSE:LPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $8.25 target price on the shipping company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 5.23% from the company’s previous close.
According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “
Several other equities analysts have also recently issued reports on LPG. BidaskClub cut Dorian LPG from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. DNB Markets cut Dorian LPG from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine cut Dorian LPG from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.75.
Shares of Dorian LPG (NYSE LPG) traded up $0.69 during mid-day trading on Friday, reaching $7.84. The company had a trading volume of 162,305 shares, compared to its average volume of 128,168. Dorian LPG has a 1-year low of $5.76 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 1.18.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. The firm had revenue of $34.73 million during the quarter, compared to analysts’ expectations of $31.13 million. Dorian LPG had a negative return on equity of 2.76% and a negative net margin of 16.31%. Dorian LPG’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) earnings per share. equities research analysts forecast that Dorian LPG will post -0.76 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP increased its position in Dorian LPG by 41.7% during the second quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock worth $8,547,000 after buying an additional 307,597 shares in the last quarter. Private Management Group Inc. increased its position in Dorian LPG by 3.9% during the second quarter. Private Management Group Inc. now owns 402,003 shares of the shipping company’s stock worth $3,288,000 after buying an additional 14,905 shares in the last quarter. Prudential Financial Inc. increased its position in Dorian LPG by 37.0% during the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock worth $2,099,000 after buying an additional 53,800 shares in the last quarter. GSA Capital Partners LLP increased its position in Dorian LPG by 96.5% during the second quarter. GSA Capital Partners LLP now owns 162,312 shares of the shipping company’s stock worth $1,328,000 after buying an additional 79,712 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Dorian LPG by 603.1% during the first quarter. Goldman Sachs Group Inc. now owns 83,468 shares of the shipping company’s stock worth $879,000 after buying an additional 71,597 shares in the last quarter. 45.39% of the stock is owned by institutional investors.
Dorian LPG Company Profile
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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