Star Bulk Carriers (NASDAQ:SBLK) Price Target Increased to $32.00 by Analysts at Stifel Nicolaus

Star Bulk Carriers (NASDAQ:SBLK) had its target price raised by stock analysts at Stifel Nicolaus from $28.00 to $32.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 22.65% from the stock’s current price.

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $30.00 target price on shares of Star Bulk Carriers in a report on Thursday.

Star Bulk Carriers Trading Up 2.0 %

Shares of SBLK opened at $26.09 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.26 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $24.45 and its 200 day moving average price is $22.44. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.75 and a beta of 1.07. Star Bulk Carriers has a 12-month low of $16.57 and a 12-month high of $26.88.

Institutional Trading of Star Bulk Carriers

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Star Bulk Carriers by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,144 shares of the shipping company’s stock valued at $1,698,000 after buying an additional 990 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Star Bulk Carriers by 100.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after buying an additional 1,000 shares during the last quarter. Boston Partners boosted its stake in shares of Star Bulk Carriers by 1.9% during the 3rd quarter. Boston Partners now owns 53,843 shares of the shipping company’s stock worth $1,038,000 after buying an additional 1,013 shares during the last quarter. Gilman Hill Asset Management LLC lifted its stake in Star Bulk Carriers by 0.3% in the 1st quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock valued at $9,646,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Star Bulk Carriers by 5.8% in the 4th quarter. Apollon Wealth Management LLC now owns 20,612 shares of the shipping company’s stock valued at $438,000 after purchasing an additional 1,131 shares during the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.