Jefferies Financial Group Forecasts Strong Price Appreciation for Dorian LPG (NYSE:LPG) Stock

Dorian LPG (NYSE:LPG - Free Report) had its price objective hoisted by Jefferies Financial Group from $33.00 to $35.00 in a research report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the shipping company's stock.

Separately, Wall Street Zen raised Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st.

Dorian LPG Trading Down 1.9%

LPG stock traded down $0.56 on Friday, reaching $28.36. The company's stock had a trading volume of 953,400 shares, compared to its average volume of 707,900. The firm has a market cap of $1.21 billion, a PE ratio of 13.13 and a beta of 0.77. The business has a fifty day simple moving average of $23.78 and a two-hundred day simple moving average of $22.90. Dorian LPG has a 12-month low of $16.66 and a 12-month high of $42.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.52 and a current ratio of 3.54.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. The business had revenue of $75.89 million during the quarter, compared to analyst estimates of $79.04 million. Dorian LPG had a net margin of 25.52% and a return on equity of 8.88%. The company's revenue for the quarter was down 46.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 EPS. As a group, research analysts forecast that Dorian LPG will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.50 per share. This represents a yield of 13.5%. The ex-dividend date was Friday, May 16th.

Institutional Trading of Dorian LPG

Hedge funds and other institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in Dorian LPG during the second quarter worth about $29,000. NewEdge Advisors LLC increased its stake 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 valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Dorian LPG during the fourth quarter valued at approximately $37,000. Brooklyn Investment Group boosted its position in shares of Dorian LPG by 2,087.8% in the 1st quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company's stock worth $44,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Dorian LPG by 155.3% in the 4th quarter. Quarry LP now owns 2,035 shares of the shipping company's stock worth $50,000 after buying an additional 1,238 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.