Star Bulk Carriers (SBLK) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a strong sell rating to a sell rating in a research note released on Thursday morning.

A number of other analysts have also commented on the stock. Morgan Stanley reduced their price target on shares of Star Bulk Carriers from $15.00 to $14.00 and set an overweight rating for the company in a research note on Tuesday. JPMorgan Chase lifted their price target on shares of Star Bulk Carriers from $17.00 to $17.50 and gave the stock an overweight rating in a research note on Friday, March 23rd. BidaskClub lowered shares of Star Bulk Carriers from a buy rating to a hold rating in a research note on Saturday, March 10th. TheStreet upgraded shares of Star Bulk Carriers from a d+ rating to a c rating in a research note on Friday, March 2nd. Finally, Seaport Global Securities set a $16.00 price target on shares of Star Bulk Carriers and gave the stock a buy rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $14.42.

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Shares of SBLK stock traded up $0.19 during trading hours on Thursday, reaching $11.88. The company had a trading volume of 116,711 shares, compared to its average volume of 390,743. Star Bulk Carriers has a one year low of $7.57 and a one year high of $13.29. The firm has a market capitalization of $756.36, a PE ratio of -54.64 and a beta of 2.26. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 0.77.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Tuesday, February 27th. The shipping company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Star Bulk Carriers had a negative net margin of 2.94% and a negative return on equity of 0.44%. The firm had revenue of $107.71 million during the quarter, compared to analyst estimates of $107.10 million. analysts anticipate that Star Bulk Carriers will post 1.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBLK. Gilder Gagnon Howe & Co. LLC bought a new stake in Star Bulk Carriers during the fourth quarter valued at approximately $4,176,000. Driehaus Capital Management LLC bought a new stake in Star Bulk Carriers during the fourth quarter valued at approximately $4,170,000. J. Goldman & Co LP grew its position in Star Bulk Carriers by 71.5% during the fourth quarter. J. Goldman & Co LP now owns 285,000 shares of the shipping company’s stock valued at $3,209,000 after buying an additional 118,846 shares during the period. JPMorgan Chase & Co. bought a new stake in Star Bulk Carriers during the third quarter valued at approximately $1,105,000. Finally, Leucadia National Corp grew its position in Star Bulk Carriers by 27.9% during the fourth quarter. Leucadia National Corp now owns 455,577 shares of the shipping company’s stock valued at $5,130,000 after buying an additional 99,320 shares during the period. Institutional investors own 69.59% of the company’s stock.

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About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport bulk commodities, including ores, coal, grains, fertilizers, and steel products. As of March 9, 2017, the company had a fleet of 68 operating vessels and 4 newbuilding vessels, as well as operated a chartered-in Supramax vessel.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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