Zacks Investment Research cut shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “

A number of other equities analysts also recently weighed in on EGLE. BidaskClub upgraded Eagle Bulk Shipping from a strong sell rating to a sell rating in a report on Friday, February 9th. ValuEngine upgraded Eagle Bulk Shipping from a sell rating to a hold rating in a report on Friday, December 1st. Maxim Group set a $5.00 target price on Eagle Bulk Shipping and gave the company a hold rating in a report on Sunday, November 19th. Deutsche Bank assumed coverage on Eagle Bulk Shipping in a report on Thursday, January 25th. They issued a buy rating and a $7.00 target price on the stock. Finally, Noble Financial assumed coverage on Eagle Bulk Shipping in a report on Friday, January 12th. They issued a buy rating and a $6.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $6.00.

Eagle Bulk Shipping (EGLE) opened at $4.61 on Tuesday. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $5.92. The company has a current ratio of 4.25, a quick ratio of 3.75 and a debt-to-equity ratio of 0.66.

A number of large investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC acquired a new position in Eagle Bulk Shipping in the third quarter worth approximately $13,609,000. Mangrove Partners increased its holdings in Eagle Bulk Shipping by 1,426.5% in the third quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock worth $10,771,000 after buying an additional 2,222,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eagle Bulk Shipping by 175.5% in the second quarter. Vanguard Group Inc. now owns 1,575,759 shares of the shipping company’s stock worth $7,453,000 after buying an additional 1,003,873 shares during the last quarter. Royce & Associates LP increased its holdings in Eagle Bulk Shipping by 94.9% in the fourth quarter. Royce & Associates LP now owns 469,804 shares of the shipping company’s stock worth $2,105,000 after buying an additional 228,804 shares during the last quarter. Finally, State Street Corp acquired a new position in Eagle Bulk Shipping in the second quarter worth approximately $1,905,000. Hedge funds and other institutional investors own 26.26% of the company’s stock.

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Eagle Bulk Shipping Company Profile

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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