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Dorian LPG (NYSE:LPG) Downgraded to Hold Rating by Freedom Capital

Dorian LPG logo with Transportation background
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Key Points

  • Freedom Capital downgraded Dorian LPG from strong-buy to hold, even as other firms remained mixed on the stock. Overall, MarketBeat shows a consensus rating of Hold with a $55.00 target price.
  • The company delivered a strong quarterly beat, reporting EPS of $1.89 versus expectations of $1.41 and revenue of $153.27 million versus $128.87 million estimated. Revenue also surged 102% year over year.
  • Shares rose 1.4% and were trading near the top of their 52-week range at $46.49, supported by solid financial metrics including a low debt-to-equity ratio and healthy liquidity. The article also highlighted institutional buying and management’s disciplined capital allocation, including a $24.2 million Corsair repurchase.
  • MarketBeat previews the top five stocks to own by June 1st.

Dorian LPG (NYSE:LPG - Get Free Report) was downgraded by equities research analysts at Freedom Capital from a "strong-buy" rating to a "hold" rating in a research note issued on Friday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dorian LPG in a report on Wednesday, April 22nd. Dnb Carnegie raised shares of Dorian LPG from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Jefferies Financial Group upped their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a report on Friday. Finally, Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.00.

Read Our Latest Stock Analysis on Dorian LPG

Dorian LPG Stock Up 1.4%

Shares of NYSE LPG opened at $46.49 on Friday. Dorian LPG has a 12-month low of $20.08 and a 12-month high of $48.12. The company has a market capitalization of $1.99 billion, a PE ratio of 10.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.40. The firm's 50-day moving average is $36.66 and its two-hundred day moving average is $31.35.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The shipping company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The company had revenue of $153.27 million for the quarter, compared to the consensus estimate of $128.87 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company's revenue for the quarter was up 102.0% compared to the same quarter last year.

Institutional Trading of Dorian LPG

Hedge funds have recently bought and sold shares of the company. KBC Group NV acquired a new stake in Dorian LPG during the first quarter worth approximately $38,000. Aster Capital Management DIFC Ltd acquired a new stake in Dorian LPG during the third quarter worth approximately $41,000. Sunbelt Securities Inc. acquired a new stake in Dorian LPG during the third quarter worth approximately $41,000. NewEdge Advisors LLC boosted its position in Dorian LPG by 1,003.8% during the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock worth $32,000 after acquiring an additional 1,315 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Dorian LPG by 429.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company's stock worth $40,000 after acquiring an additional 1,340 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Key Dorian LPG News

Here are the key news stories impacting Dorian LPG this week:

About Dorian LPG

(Get Free Report)

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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Analyst Recommendations for Dorian LPG (NYSE:LPG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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