Wall Street Zen Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Strong-Buy

Key Points

• Wall Street Zen upgraded Pangaea Logistics Solutions (NASDAQ:PANL) from "buy" to strong-buy, though the consensus rating remains "Hold" with an average target price of $9.00 and mixed analyst opinions.
• The company reported quarterly EPS of $0.16 (missing estimates by $0.02) while revenue of $183.88 million slightly beat expectations, and analysts forecast about 0.43 EPS for the fiscal year.
• PANL shares opened at $7.29 with a market cap of roughly $476 million, a P/E of 23.52, a 52-week range of $3.94–$9.39, and about 60% institutional ownership.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Several other equities analysts also recently commented on the stock. Zacks Research downgraded shares of Pangaea Logistics Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Pangaea Logistics Solutions in a research report on Friday, March 27th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $7.29 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.69. The company has a market cap of $476.18 million, a P/E ratio of 23.52 and a beta of 0.89. The firm's fifty day moving average is $8.02 and its two-hundred day moving average is $6.90. Pangaea Logistics Solutions has a 52-week low of $3.94 and a 52-week high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Tuesday, March 10th. The shipping company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Pangaea Logistics Solutions had a return on equity of 3.80% and a net margin of 3.06%.The business had revenue of $183.88 million during the quarter, compared to the consensus estimate of $181.75 million. As a group, analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in PANL. BNP Paribas Financial Markets increased its stake in shares of Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company's stock worth $31,000 after acquiring an additional 2,864 shares during the period. LOM Asset Management Ltd purchased a new position in Pangaea Logistics Solutions during the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its holdings in Pangaea Logistics Solutions by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company's stock valued at $43,000 after purchasing an additional 4,825 shares in the last quarter. Algert Global LLC purchased a new position in Pangaea Logistics Solutions during the third quarter valued at $53,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Pangaea Logistics Solutions in the fourth quarter worth about $53,000. Institutional investors and hedge funds own 60.23% of the company's stock.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.

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