Deutsche Bank assumed coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $7.00 price target on the shipping company’s stock. Deutsche Bank’s price target points to a potential upside of 31.83% from the stock’s previous close.
EGLE has been the topic of several other research reports. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Noble Financial began coverage on shares of Eagle Bulk Shipping in a research note on Friday, January 12th. They set a “buy” rating and a $6.00 target price on the stock. ValuEngine cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Maxim Group set a $5.00 target price on shares of Eagle Bulk Shipping and gave the company a “hold” rating in a research note on Sunday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Eagle Bulk Shipping has an average rating of “Hold” and a consensus price target of $6.00.
Eagle Bulk Shipping (NASDAQ EGLE) traded up $0.05 during trading on Thursday, reaching $5.31. 302,557 shares of the company’s stock traded hands, compared to its average volume of 379,002. The firm has a market cap of $389.79, a PE ratio of -1.58 and a beta of 3.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.75 and a current ratio of 4.25. Eagle Bulk Shipping has a 52-week low of $4.18 and a 52-week high of $7.19.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mangrove Partners grew its stake in shares of Eagle Bulk Shipping by 1,426.5% in the 3rd quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock worth $10,771,000 after purchasing an additional 2,222,000 shares during the last quarter. Northern Trust Corp acquired a new position in shares of Eagle Bulk Shipping in the 2nd quarter worth approximately $1,558,000. Bank of New York Mellon Corp acquired a new position in shares of Eagle Bulk Shipping in the 2nd quarter worth approximately $496,000. Neuberger Berman Group LLC acquired a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth approximately $13,609,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Eagle Bulk Shipping in the 2nd quarter worth approximately $597,000. 26.30% of the stock is currently owned by institutional investors.
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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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