Brokerages Set $4.55 Target Price for Pangaea Logistics Solutions Ltd. (PANL)
Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a 1-year consensus price target of $4.55 for the company, according to Zacks. Zacks has also assigned Pangaea Logistics Solutions an industry rank of 230 out of 265 based on the ratings given to related companies.
Several equities analysts have recently issued reports on the company. Noble Financial assumed coverage on Pangaea Logistics Solutions in a research report on Tuesday. They set a “buy” rating for the company. TheStreet upgraded Pangaea Logistics Solutions from a “d+” rating to a “c-” rating in a report on Monday, November 27th. Fearnley Fonds assumed coverage on Pangaea Logistics Solutions in a report on Tuesday, October 10th. They set a “buy” rating and a $3.60 price objective on the stock. Finally, Deutsche Bank assumed coverage on Pangaea Logistics Solutions in a report on Wednesday, August 30th. They set a “buy” rating and a $111.10 price objective on the stock.
Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, November 9th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The company had revenue of $107.02 million during the quarter. Pangaea Logistics Solutions had a return on equity of 6.90% and a net margin of 1.10%.
In other news, Director Anthony Laura sold 13,000 shares of Pangaea Logistics Solutions stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $4.50, for a total transaction of $58,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 86.15% of the company’s stock.
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About Pangaea Logistics Solutions
Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.
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