Wall Street Zen Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Buy

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other equities analysts have also recently weighed in on PANL. Zacks Research raised shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, November 24th. Finally, B. Riley reduced their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $9.00.

Pangaea Logistics Solutions Price Performance

Shares of Pangaea Logistics Solutions stock opened at $7.01 on Monday. The company has a market capitalization of $455.47 million, a price-to-earnings ratio of 31.87 and a beta of 0.73. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.16. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $7.22.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%.The company had revenue of $168.67 million for the quarter, compared to the consensus estimate of $159.32 million. As a group, analysts expect that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Pangaea Logistics Solutions during the first quarter valued at approximately $539,000. Goldman Sachs Group Inc. raised its holdings in Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after buying an additional 14,357 shares during the period. American Century Companies Inc. lifted its position in Pangaea Logistics Solutions by 8.7% in the first quarter. American Century Companies Inc. now owns 1,008,916 shares of the shipping company’s stock worth $4,802,000 after buying an additional 80,872 shares during the last quarter. Walleye Capital LLC bought a new position in Pangaea Logistics Solutions during the first quarter valued at $132,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Pangaea Logistics Solutions by 4.0% in the first quarter. Bridgeway Capital Management LLC now owns 678,219 shares of the shipping company’s stock valued at $3,228,000 after acquiring an additional 25,851 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.