Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
Separately, Alliance Global Partners upgraded Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 target price on the stock in a research note on Monday, May 13th.
Read Our Latest Analysis on Pangaea Logistics Solutions
Pangaea Logistics Solutions Stock Up 1.3 %
Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) last announced its earnings results on Thursday, May 9th. The shipping company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The firm had revenue of $104.75 million for the quarter, compared to the consensus estimate of $117.47 million. During the same period in the previous year, the business earned $0.11 EPS. As a group, equities research analysts expect that Pangaea Logistics Solutions will post 0.73 EPS for the current fiscal year.
Institutional Trading of Pangaea Logistics Solutions
A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $256,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Pangaea Logistics Solutions by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock worth $196,000 after buying an additional 9,352 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $61,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter worth about $114,000. Finally, Vanguard Group Inc. boosted its stake in shares of Pangaea Logistics Solutions by 2.0% in the first quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company’s stock worth $4,892,000 after buying an additional 13,542 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.
Pangaea Logistics Solutions Company Profile
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
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