Eagle Bulk Shipping (EGLE) Coverage Initiated by Analysts at Noble Financial
Investment analysts at Noble Financial assumed coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a report issued on Friday. The brokerage set a “buy” rating and a $6.00 price target on the shipping company’s stock. Noble Financial’s target price points to a potential upside of 22.45% from the company’s current price.
Several other brokerages also recently commented on EGLE. Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Thursday, November 9th. Maxim Group reissued a “hold” rating and issued a $4.50 price objective on shares of Eagle Bulk Shipping in a research note on Thursday, November 2nd. Finally, ValuEngine raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $5.75.
Shares of Eagle Bulk Shipping (EGLE) traded up $0.12 during trading on Friday, hitting $4.90. The stock had a trading volume of 467,744 shares, compared to its average volume of 411,411. The stock has a market capitalization of $354.22, a P/E ratio of -1.40 and a beta of 2.35. Eagle Bulk Shipping has a 12-month low of $4.18 and a 12-month high of $7.61. The company has a current ratio of 4.25, a quick ratio of 3.75 and a debt-to-equity ratio of 0.66.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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