DNB Markets upgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a buy rating in a report released on Friday morning, The Fly reports.
Several other research analysts have also recently commented on LPG. Zacks Investment Research upgraded shares of Dorian LPG from a hold rating to a buy rating and set a $8.50 price target for the company in a report on Wednesday, October 17th. ValuEngine cut shares of Dorian LPG from a buy rating to a hold rating in a report on Tuesday, November 6th.
Shares of LPG stock opened at $5.73 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $309.54 million, a P/E ratio of -9.24 and a beta of 0.83. Dorian LPG has a fifty-two week low of $5.32 and a fifty-two week high of $8.80.
Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Monday, February 4th. The shipping company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.08. Dorian LPG had a negative net margin of 23.65% and a negative return on equity of 4.35%. The company had revenue of $55.11 million during the quarter, compared to analysts’ expectations of $47.29 million. As a group, research analysts predict that Dorian LPG will post -0.68 EPS for the current year.
In other news, Director Christina Tan purchased 20,090 shares of the stock in a transaction on Tuesday, December 4th. The stock was bought at an average price of $6.94 per share, for a total transaction of $139,424.60. Following the acquisition, the director now directly owns 65,993 shares of the company’s stock, valued at approximately $457,991.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 26.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Royce & Associates LP boosted its holdings in shares of Dorian LPG by 5.8% in the 4th quarter. Royce & Associates LP now owns 2,471,171 shares of the shipping company’s stock valued at $14,407,000 after buying an additional 136,032 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Dorian LPG by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 109,766 shares of the shipping company’s stock valued at $639,000 after buying an additional 8,803 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Dorian LPG by 2.2% in the 4th quarter. BlackRock Inc. now owns 1,794,563 shares of the shipping company’s stock valued at $10,462,000 after buying an additional 39,309 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Dorian LPG in the 4th quarter valued at $232,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Dorian LPG by 72.9% in the 4th quarter. Mackenzie Financial Corp now owns 19,100 shares of the shipping company’s stock valued at $111,000 after buying an additional 8,050 shares in the last quarter. Institutional investors and hedge funds own 56.01% of the company’s stock.
Dorian LPG Company Profile
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.
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