Zacks Research Downgrades Dorian LPG (NYSE:LPG) to Hold

Key Points

• Zacks Research has downgraded Dorian LPG's stock rating from a "strong-buy" to a "hold".
• The stock has a consensus rating of "Moderate Buy" with an average price target of $35.00.
• Dorian LPG reported earnings of $0.27 EPS for the last quarter, missing estimates and marking a 26.3% year-over-year revenue decline.

Dorian LPG (NYSE:LPG - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, September 9th,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Jefferies Financial Group raised their target price on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Dorian LPG Trading Down 1.1%

NYSE LPG traded down $0.36 during trading on Tuesday, hitting $32.34. The stock had a trading volume of 125,819 shares, compared to its average volume of 716,580. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 28.12 and a beta of 0.82. Dorian LPG has a one year low of $16.66 and a one year high of $37.16. The stock has a 50 day simple moving average of $30.06 and a 200 day simple moving average of $24.95.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.34). The firm had revenue of $84.21 million during the quarter, compared to the consensus estimate of $86.53 million. Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The firm's revenue for the quarter was down 26.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. Sell-side analysts predict that Dorian LPG will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Dorian LPG by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company's stock valued at $324,000 after purchasing an additional 390 shares during the period. IFP Advisors Inc lifted its position in Dorian LPG by 4.2% during the first quarter. IFP Advisors Inc now owns 11,914 shares of the shipping company's stock valued at $266,000 after purchasing an additional 477 shares during the period. Moors & Cabot Inc. lifted its position in Dorian LPG by 3.1% during the first quarter. Moors & Cabot Inc. now owns 16,308 shares of the shipping company's stock valued at $364,000 after purchasing an additional 495 shares during the period. Arizona State Retirement System lifted its position in Dorian LPG by 4.8% during the first quarter. Arizona State Retirement System now owns 11,664 shares of the shipping company's stock valued at $261,000 after purchasing an additional 532 shares during the period. Finally, Inspire Investing LLC lifted its position in Dorian LPG by 3.1% during the first quarter. Inspire Investing LLC now owns 18,206 shares of the shipping company's stock valued at $407,000 after purchasing an additional 547 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.