Morgan Stanley Trims Star Bulk Carriers (SBLK) Target Price to $14.00
Star Bulk Carriers (NASDAQ:SBLK) had its price target cut by stock analysts at Morgan Stanley from $15.00 to $14.00 in a research note issued on Monday. The firm currently has an “overweight” rating on the shipping company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 29.51% from the stock’s previous close.
SBLK has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, October 20th. Stifel Nicolaus set a $11.00 target price on shares of Star Bulk Carriers and gave the stock a “hold” rating in a research report on Sunday, October 22nd. BidaskClub cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Jefferies Group began coverage on shares of Star Bulk Carriers in a research report on Monday, December 18th. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.83.
Shares of Star Bulk Carriers (NASDAQ:SBLK) traded up $0.40 during midday trading on Monday, hitting $10.81. 618,400 shares of the company traded hands, compared to its average volume of 489,152. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.64 and a quick ratio of 2.64. Star Bulk Carriers has a 12-month low of $7.57 and a 12-month high of $13.40. The firm has a market capitalization of $693.49, a PE ratio of -9.65 and a beta of 2.61.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Star Bulk Carriers during the second quarter worth about $110,000. Capital Fund Management S.A. purchased a new stake in shares of Star Bulk Carriers during the fourth quarter worth about $145,000. State Street Corp purchased a new stake in shares of Star Bulk Carriers during the second quarter worth about $176,000. Fox Run Management L.L.C. purchased a new stake in shares of Star Bulk Carriers during the fourth quarter worth about $272,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Star Bulk Carriers by 12.8% during the second quarter. Goldman Sachs Group Inc. now owns 49,515 shares of the shipping company’s stock worth $487,000 after buying an additional 5,619 shares in the last quarter. Institutional investors and hedge funds own 70.88% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2018/02/12/morgan-stanley-trims-star-bulk-carriers-sblk-target-price-to-14-00.html.
About Star Bulk Carriers
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
Receive News & Ratings for Star Bulk Carriers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Star Bulk Carriers and related companies with MarketBeat.com's FREE daily email newsletter.