Jefferies Financial Group Upgrades Star Bulk Carriers (NASDAQ:SBLK) to Strong-Buy

Key Points

• Jefferies Financial Group upgraded Star Bulk Carriers (SBLK) to a strong-buy, and other firms (Zacks, Wall Street Zen) have also moved to strong-buy, leaving a consensus rating of Buy with a $29.00 price target.
• SBLK is trading around $24.23 (50-day MA $24.03, 200-day MA $21.18) with a one-year range of $14.26–$27.20, a market cap of $2.75 billion and a PE of 33.19.
• In the latest quarter SBLK beat EPS estimates ($0.62 vs. $0.52) but missed revenue expectations, and COO Nikolaos Reskos sold 8,406 shares; insiders own ~0.9% while institutions hold ~33.9% of the stock.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Wall Street Zen upgraded Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $29.00.

Star Bulk Carriers Price Performance

SBLK opened at $24.23 on Friday. The business's 50-day moving average is $24.03 and its two-hundred day moving average is $21.18. Star Bulk Carriers has a 1 year low of $14.26 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.65. The firm has a market capitalization of $2.75 billion, a PE ratio of 33.19 and a beta of 0.78.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%.The company had revenue of $230.79 million for the quarter, compared to analyst estimates of $250.51 million. Research analysts anticipate that Star Bulk Carriers will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Star Bulk Carriers

In other news, COO Nikolaos Reskos sold 8,406 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.05, for a total transaction of $210,570.30. Following the sale, the chief operating officer owned 440,878 shares in the company, valued at approximately $11,043,993.90. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Star Bulk Carriers

Large investors have recently modified their holdings of the business. USA Financial Formulas purchased a new stake in shares of Star Bulk Carriers during the fourth quarter worth about $26,000. Triumph Capital Management purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $26,000. Rhumbline Advisers grew its stake in shares of Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock worth $32,000 after acquiring an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Star Bulk Carriers during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company's vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.

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