Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Strong-Buy at Zacks Research

Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Separately, Weiss Ratings upgraded Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Pangaea Logistics Solutions Stock Up 5.2%

Shares of NASDAQ:PANL opened at $8.54 on Monday. The firm has a market cap of $559.15 million, a P/E ratio of 7.43 and a beta of 0.91. The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.50. Pangaea Logistics Solutions has a 12-month low of $6.21 and a 12-month high of $9.39. The business has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $7.83.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.31 by $0.21. Pangaea Logistics Solutions had a return on equity of 13.64% and a net margin of 9.68%. The firm had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. Analysts predict that Pangaea Logistics Solutions will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after purchasing an additional 351,385 shares during the last quarter. Renaissance Technologies LLC raised its stake in Pangaea Logistics Solutions by 33.0% during the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after buying an additional 185,100 shares during the last quarter. Empowered Funds LLC raised its stake in Pangaea Logistics Solutions by 9.8% during the first quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company’s stock worth $2,925,000 after buying an additional 36,990 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Pangaea Logistics Solutions by 66.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after buying an additional 83,380 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Pangaea Logistics Solutions by 143.8% in the third quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock valued at $1,586,000 after buying an additional 116,658 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.