Dorian LPG (LPG) Upgraded to Buy by Clarkson Capital

Dorian LPG (NYSE:LPG) was upgraded by equities researchers at Clarkson Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Several other equities research analysts have also commented on LPG. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Friday, November 3rd. Finally, ValuEngine upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Dorian LPG presently has an average rating of “Hold” and an average target price of $9.17.

Dorian LPG (NYSE LPG) traded up $0.27 during trading hours on Monday, hitting $7.86. 319,305 shares of the stock were exchanged, compared to its average volume of 568,792. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.63 and a current ratio of 0.65. Dorian LPG has a fifty-two week low of $6.20 and a fifty-two week high of $11.28. The firm has a market cap of $418.33, a PE ratio of -28.07 and a beta of 1.05.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.15. Dorian LPG had a negative net margin of 8.92% and a negative return on equity of 2.29%. The business had revenue of $44.55 million for the quarter, compared to analysts’ expectations of $36.59 million. During the same period in the prior year, the company posted ($0.36) EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. analysts forecast that Dorian LPG will post -0.62 EPS for the current year.

In other news, major shareholder Group Ltd Bw bought 1,100,000 shares of Dorian LPG stock in a transaction on Friday, January 26th. The shares were bought at an average cost of $7.30 per share, for a total transaction of $8,030,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christina Tan bought 10,000 shares of Dorian LPG stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the completion of the acquisition, the director now owns 39,475 shares in the company, valued at approximately $276,325. The disclosure for this purchase can be found here. Insiders purchased a total of 1,836,460 shares of company stock worth $13,570,244 over the last quarter. Insiders own 26.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in LPG. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Dorian LPG in the 4th quarter valued at about $105,000. Macquarie Group Ltd. purchased a new position in Dorian LPG in the 3rd quarter valued at about $120,000. Voya Investment Management LLC lifted its holdings in Dorian LPG by 21.3% in the 2nd quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 2,763 shares in the last quarter. Virtu Financial LLC purchased a new position in Dorian LPG in the 4th quarter valued at about $163,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Dorian LPG by 1,041.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 20,004 shares of the shipping company’s stock valued at $164,000 after purchasing an additional 18,252 shares in the last quarter. Institutional investors own 47.85% of the company’s stock.

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About Dorian LPG

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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