Star Bulk Carriers (NASDAQ:SBLK) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Star Bulk Carriers (NASDAQ:SBLK) from a "buy" to a "strong-buy" rating in a recent report.
• Most analysts still have a consensus rating of "Hold" with an average target price of $22.00, while the stock recently traded around $24.45 and carries a market cap of about $2.77 billion.
• In the latest quarter SBLK reported $0.62 EPS vs. $0.52 expected (an EPS beat) but missed revenue estimates, and COO Nikolaos Reskos sold 8,406 shares at about $25.05.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Several other research analysts also recently weighed in on SBLK. Weiss Ratings restated a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Zacks Research downgraded Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.00.

Star Bulk Carriers Trading Down 0.3%

SBLK stock opened at $24.45 on Friday. Star Bulk Carriers has a 1-year low of $13.37 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 company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 33.49 and a beta of 0.78. The business has a 50 day simple moving average of $23.93 and a two-hundred day simple moving average of $20.97.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $230.79 million during the quarter, compared to the consensus estimate of $250.51 million. Research analysts anticipate that Star Bulk Carriers will post 1.74 EPS for the current fiscal year.

Insider Activity at Star Bulk Carriers

In other news, COO Nikolaos Reskos sold 8,406 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.05, for a total transaction of $210,570.30. Following the completion of the transaction, the chief operating officer directly owned 440,878 shares in the company, valued at approximately $11,043,993.90. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Star Bulk Carriers during the 4th quarter valued at approximately $26,000. Triumph Capital Management purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at $26,000. Rhumbline Advisers raised its holdings in Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock valued at $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at $33,000. Finally, Morse Asset Management Inc purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at $37,000. 33.91% of the stock is currently owned by institutional investors.

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.

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.