Star Bulk Carriers (NASDAQ:SBLK) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded Star Bulk Carriers (SBLK) from "hold" to "strong-buy"; Jefferies started coverage with a "buy" and $29 price target, and the consensus target price is $29 with an average "Buy" rating.
• SBLK shares trade near $24.17 (52‑week range $13.99–$27.20) with a $2.74B market cap and a P/E of 33.11; the company recently reported $0.62 EPS (beat $0.52) but missed on revenue, and analysts forecast about $3.85 EPS for the current fiscal year.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group started coverage on shares of Star Bulk Carriers in a research report on Friday. They issued a "buy" rating and a $29.00 price objective on the stock. Wall Street Zen upgraded Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Star Bulk Carriers in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Star Bulk Carriers has an average rating of "Buy" and a consensus target price of $29.00.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $24.17 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.78. Star Bulk Carriers has a 52 week low of $13.99 and a 52 week high of $27.20. The company's 50 day moving average price is $24.02 and its two-hundred day moving average price is $21.14. The company has a market capitalization of $2.74 billion, a P/E ratio of 33.11 and a beta of 0.78.

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

Insider Buying and Selling

In other Star Bulk Carriers news, COO Nikolaos Reskos sold 8,406 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $25.05, for a total transaction of $210,570.30. Following the sale, the chief operating officer directly owned 440,878 shares of the company's stock, valued at $11,043,993.90. The trade was a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by company insiders.

Institutional Trading of Star Bulk Carriers

Hedge funds and other institutional investors have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in Star Bulk Carriers during the fourth quarter worth about $26,000. Triumph Capital Management bought a new position in Star Bulk Carriers in the third quarter valued at approximately $26,000. Rhumbline Advisers increased its position in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock worth $32,000 after purchasing an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers during the 3rd quarter worth approximately $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Star Bulk Carriers during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Star Bulk Carriers Company Profile

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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