Jefferies Financial Group Upgrades Star Bulk Carriers (NASDAQ:SBLK) to Strong-Buy

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Star Bulk Carriers currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $24.23 on Friday. The business’s 50 day moving average price is $24.03 and its 200 day moving average price is $21.18. The firm has a market cap of $2.75 billion, a P/E ratio of 33.19 and a beta of 0.78. Star Bulk Carriers has a 52 week low of $14.26 and a 52 week high of $27.20. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. The firm had revenue of $230.79 million for the quarter, compared to analyst estimates of $250.51 million. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%. On average, sell-side analysts expect that Star Bulk Carriers will post 3.85 earnings per share for the current year.

Insider Transactions at Star Bulk Carriers

In other Star Bulk Carriers news, COO Nikolaos Reskos sold 8,406 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.05, for a total value of $210,570.30. Following the completion of the transaction, the chief operating officer directly owned 440,878 shares of the company’s stock, valued at approximately $11,043,993.90. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. USA Financial Formulas acquired a new position in Star Bulk Carriers in the fourth quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in Star Bulk Carriers in the third quarter valued at approximately $26,000. Rhumbline Advisers lifted its holdings in Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new position in Star Bulk Carriers in the third quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new position in Star Bulk Carriers in the fourth quarter valued at approximately $38,000. 33.91% of the stock is owned by institutional investors and hedge funds.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.