Freedom Capital Upgrades Dorian LPG (NYSE:LPG) to "Strong-Buy"

Key Points

• Freedom Capital upgraded Dorian LPG to “strong buy” from “hold,” while the broader analyst consensus remains “Moderate Buy” with a $55 price target.
• Dorian LPG reported strong quarterly results, posting $2.52 EPS versus the $2.12 estimate and $187.88 million in revenue, up 123.1% year over year.
• The stock opened at $45.53 and was trading near its 52-week high of $48.12; institutional investors own 62.5% of shares, while two insiders recently reduced their holdings through stock sales.

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

LPG has been the topic of a number of other research reports. Jefferies Financial Group lifted their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Weiss Ratings raised shares of Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Pareto Securities restated a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Dnb Carnegie raised shares of Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Dorian LPG Trading Up 2.6%

NYSE LPG opened at $45.53 on Thursday. The firm has a market cap of $1.95 billion, a P/E ratio of 6.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 2.65. The stock's 50-day moving average is $41.45 and its 200-day moving average is $37.44. Dorian LPG has a one year low of $23.76 and a one year high of $48.12.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The business had revenue of $187.88 million for the quarter, compared to analysts' expectations of $160.78 million. During the same quarter in the previous year, the business posted $0.27 EPS. Dorian LPG's revenue for the quarter was up 123.1% on a year-over-year basis.

Insiders Place Their Bets

In other Dorian LPG news, insider Tim Truels Hansen sold 20,000 shares of Dorian LPG stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total value of $707,600.00. Following the sale, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the sale, the director owned 66,348 shares in the company, valued at $2,989,640.88. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 13.50% of the company's stock.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Dorian LPG by 2,540.0% in the first quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company's stock valued at $6,513,000 after acquiring an additional 183,232 shares during the last quarter. Empowered Funds LLC boosted its position in Dorian LPG by 117.5% during the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company's stock valued at $6,738,000 after purchasing an additional 106,428 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Dorian LPG in the first quarter valued at approximately $1,247,000. Arete Wealth Advisors LLC acquired a new position in shares of Dorian LPG during the 1st quarter worth approximately $683,000. Finally, Amundi acquired a new position in shares of Dorian LPG during the 1st quarter worth approximately $465,000. Institutional investors own 62.50% of the company's stock.

Dorian LPG Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source