Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research note issued to investors on Monday.

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

Pangaea Logistics Solutions Trading Up 1.0%

Shares of PANL stock opened at $7.04 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a twelve month low of $3.93 and a twelve month high of $7.23. The company’s 50-day moving average price is $5.60 and its 200-day moving average price is $5.21. The stock has a market cap of $457.39 million, a price-to-earnings ratio of 23.47 and a beta of 0.78.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.14. The company had revenue of $168.67 million for the quarter, compared to analyst estimates of $159.32 million. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. As a group, equities analysts predict that Pangaea Logistics Solutions will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Pangaea Logistics Solutions’s payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PANL. Charles Schwab Investment Management Inc. lifted its holdings in Pangaea Logistics Solutions by 14.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 99,735 shares of the shipping company’s stock worth $475,000 after buying an additional 12,680 shares in the last quarter. Koss Olinger Consulting LLC increased its position in shares of Pangaea Logistics Solutions by 494.5% during the first quarter. Koss Olinger Consulting LLC now owns 116,029 shares of the shipping company’s stock worth $552,000 after acquiring an additional 96,513 shares during the period. Nuveen LLC purchased a new stake in shares of Pangaea Logistics Solutions during the first quarter worth $539,000. American Century Companies Inc. raised its stake in shares of 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 valued at $4,802,000 after acquiring an additional 80,872 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Pangaea Logistics Solutions in the first quarter valued at $132,000. 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.