Star Bulk Carriers (NASDAQ:SBLK) has been given a $17.00 price objective by Deutsche Bank in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the shipping company’s stock. Deutsche Bank’s price objective points to a potential upside of 61.44% from the stock’s current price.
SBLK has been the subject of a number of other reports. JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the company a “buy” rating in a research report on Tuesday, September 11th. BidaskClub raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Seaport Global Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Star Bulk Carriers in a research report on Sunday, August 12th. Stifel Nicolaus raised their price objective on Star Bulk Carriers from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, ValuEngine cut Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.71.
NASDAQ SBLK traded down $0.05 during trading hours on Thursday, hitting $10.53. 602,011 shares of the company traded hands, compared to its average volume of 625,584. Star Bulk Carriers has a twelve month low of $8.62 and a twelve month high of $15.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59. The stock has a market capitalization of $700.28 million, a PE ratio of -47.86 and a beta of 2.59.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $142,000. WealthTrust Axiom LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $144,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at approximately $180,000. FNY Investment Advisers LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $285,000. Finally, Paloma Partners Management Co lifted its holdings in Star Bulk Carriers by 27.8% during the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after purchasing an additional 7,074 shares during the last quarter. 68.09% of the stock is owned by institutional investors.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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