Dorian LPG (LPG) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research downgraded shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
LPG has been the subject of a number of other reports. ValuEngine downgraded Dorian LPG from a hold rating to a sell rating in a research note on Thursday, November 16th. DNB Markets downgraded Dorian LPG from a buy rating to a hold rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $8.75.
Shares of Dorian LPG (LPG) opened at $8.10 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market capitalization of $463.52, a P/E ratio of -38.57 and a beta of 1.19. Dorian LPG has a 52-week low of $6.20 and a 52-week high of $12.50.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.02. The firm had revenue of $34.73 million during the quarter, compared to the consensus estimate of $31.13 million. Dorian LPG had a negative return on equity of 4.06% and a negative net margin of 7.30%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) EPS. research analysts predict that Dorian LPG will post -0.66 earnings per share for the current year.
In related news, Director Christina Tan acquired 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $7.00 per share, for a total transaction of $70,000.00. Following the purchase, the director now directly owns 39,475 shares in the company, valued at $276,325. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 26.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Robotti Robert grew its stake in shares of Dorian LPG by 0.3% in the second quarter. Robotti Robert now owns 300,791 shares of the shipping company’s stock worth $2,454,000 after purchasing an additional 791 shares in the last quarter. Voya Investment Management LLC grew its stake 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 worth $129,000 after purchasing an additional 2,763 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Dorian LPG by 24.4% in the second quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock worth $238,000 after purchasing an additional 5,700 shares in the last quarter. Numeric Investors LLC grew its stake in shares of Dorian LPG by 24.1% in the second quarter. Numeric Investors LLC now owns 55,087 shares of the shipping company’s stock worth $451,000 after purchasing an additional 10,693 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Dorian LPG by 3.9% in the second quarter. Private Management Group Inc. now owns 402,003 shares of the shipping company’s stock worth $3,288,000 after purchasing an additional 14,905 shares in the last quarter. Hedge funds and other institutional investors own 47.71% of the company’s stock.
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About Dorian LPG
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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