Zacks Investment Research Lowers Dorian LPG (LPG) to Hold

Zacks Investment Research cut shares of Dorian LPG (NYSE:LPG) from a buy rating to a hold rating in a report issued on Tuesday 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. “

A number of other equities research analysts have also recently commented on the company. DNB Markets cut Dorian LPG from a buy rating to a hold rating in a report on Friday, October 27th. ValuEngine cut Dorian LPG from a hold rating to a sell rating in a report on Thursday, November 16th. 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 stock. The stock has an average rating of Hold and a consensus price target of $9.17.

Dorian LPG (NYSE:LPG) traded up $0.23 during trading hours on Tuesday, reaching $7.78. The company’s stock had a trading volume of 304,973 shares, compared to its average volume of 261,976. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $428.80, a PE ratio of -37.05 and a beta of 1.20. Dorian LPG has a twelve month low of $6.20 and a twelve month high of $12.50.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Friday, November 3rd. The shipping company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.02. The business had revenue of $34.73 million for the quarter, compared to analysts’ expectations of $31.13 million. Dorian LPG had a negative return on equity of 4.06% and a negative net margin of 7.30%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. research analysts forecast that Dorian LPG will post -0.66 EPS for the current year.

In other news, Director Christina Tan bought 10,000 shares of Dorian LPG stock in a transaction dated Friday, December 8th. The shares were purchased at an average cost of $7.00 per share, with a total value of $70,000.00. Following the completion of the acquisition, the director now owns 39,475 shares of the company’s stock, valued at approximately $276,325. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 26.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Dorian LPG by 9.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,687,162 shares of the shipping company’s stock worth $11,508,000 after purchasing an additional 149,524 shares during the last quarter. Royce & Associates LP grew its position in Dorian LPG by 27.9% in the third quarter. Royce & Associates LP now owns 1,336,331 shares of the shipping company’s stock worth $9,114,000 after acquiring an additional 291,500 shares in the last quarter. Oppenheimer & Close LLC grew its position in Dorian LPG by 3.7% in the second quarter. Oppenheimer & Close LLC now owns 1,216,943 shares of the shipping company’s stock worth $9,954,000 after acquiring an additional 43,369 shares in the last quarter. Private Management Group Inc. grew its position in Dorian LPG by 4.6% in the third quarter. Private Management Group Inc. now owns 420,685 shares of the shipping company’s stock worth $2,869,000 after acquiring an additional 18,682 shares in the last quarter. Finally, State Street Corp grew its position in Dorian LPG by 9.2% in the second quarter. State Street Corp now owns 370,511 shares of the shipping company’s stock worth $3,030,000 after acquiring an additional 31,124 shares in the last quarter. 47.71% of the stock is currently owned by hedge funds and other institutional investors.

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Dorian LPG Company Profile

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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