Dorian LPG (NYSE:LPG) Stock Rating Lowered by Zacks Research

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 investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on LPG. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group upped their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Dorian LPG has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Dorian LPG Price Performance

Shares of NYSE LPG opened at $31.54 on Tuesday. The firm has a 50-day simple moving average of $29.71 and a 200-day simple moving average of $24.66. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 27.43 and a beta of 0.82. The company has a quick ratio of 3.30, a current ratio of 3.32 and a debt-to-equity ratio of 0.47. Dorian LPG has a 52 week low of $16.66 and a 52 week high of $37.16.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in Dorian LPG during the second quarter worth about $29,000. Evermay Wealth Management LLC purchased a new position in Dorian LPG during the second quarter worth about $32,000. NewEdge Advisors LLC lifted its position in shares of 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 purchasing an additional 1,315 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Dorian LPG during the fourth quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

About Dorian LPG

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.

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