Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by Zacks Research

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

PANL has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Trading Up 2.2%

PANL opened at $6.90 on Tuesday. Pangaea Logistics Solutions has a one year low of $3.93 and a one year high of $7.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The business has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $5.63. The firm has a market capitalization of $448.29 million, a price-to-earnings ratio of 23.00 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%. Analysts predict that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Epoch Investment Partners Inc. bought a new stake in Pangaea Logistics Solutions in the second quarter worth $732,000. First Trust Advisors LP purchased a new position in Pangaea Logistics Solutions during the third quarter worth $532,000. Dimensional Fund Advisors LP lifted its holdings in shares of Pangaea Logistics Solutions by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,432,754 shares of the shipping company’s stock worth $12,359,000 after acquiring an additional 86,281 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Pangaea Logistics Solutions by 231.2% during the 2nd quarter. Jane Street Group LLC now owns 62,799 shares of the shipping company’s stock worth $295,000 after purchasing an additional 43,838 shares during the period. Finally, Zacks Investment Management purchased a new stake in Pangaea Logistics Solutions in the 3rd quarter worth about $209,000. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.