Zacks Investment Research Lowers Dorian LPG Ltd. (LPG) to Sell
Dorian LPG Ltd. (NYSE:LPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Other equities research analysts also recently issued research reports about the stock. UBS AG set a $8.00 price objective on shares of Dorian LPG and gave the stock a “buy” rating in a research report on Saturday, June 17th. BidaskClub downgraded shares of Dorian LPG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Dorian LPG presently has a consensus rating of “Hold” and an average target price of $10.00.
Dorian LPG (NYSE LPG) remained flat at $6.64 during midday trading on Tuesday. 99,860 shares of the company’s stock traded hands. The firm’s 50-day moving average is $7.68 and its 200-day moving average is $8.95. The stock’s market capitalization is $359.06 million. Dorian LPG has a one year low of $5.07 and a one year high of $12.50.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. The company had revenue of $41 million during the quarter, compared to the consensus estimate of $37.65 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was down 17.6% compared to the same quarter last year. On average, equities research analysts forecast that Dorian LPG will post ($0.44) EPS for the current fiscal year.
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In related news, insider John C. Hadjipateras sold 250,000 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $7.55, for a total transaction of $1,887,500.00. Following the completion of the transaction, the insider now owns 2,037,020 shares in the company, valued at $15,379,501. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LPG. Voya Investment Management LLC boosted its position in shares of Dorian LPG by 21.3% in the second quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock valued at $129,000 after buying an additional 2,763 shares during the last quarter. Gargoyle Investment Advisor L.L.C. acquired a new position in shares of Dorian LPG during the first quarter valued at approximately $150,000. American International Group Inc. boosted its position in shares of Dorian LPG by 7.1% in the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after buying an additional 987 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of Dorian LPG during the second quarter valued at approximately $165,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Dorian LPG during the first quarter valued at approximately $173,000. Institutional investors and hedge funds own 48.38% of the company’s stock.
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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