Dorian LPG (LPG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $9.00 price target on the shipping company’s stock.

According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “

Separately, ValuEngine downgraded Dorian LPG from a buy rating to a hold rating in a research report on Tuesday.

Shares of LPG stock opened at $7.49 on Tuesday. The company has a market cap of $458.99 million, a price-to-earnings ratio of -12.08 and a beta of 0.86. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.71. Dorian LPG has a 12-month low of $6.87 and a 12-month high of $8.80.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Wednesday, October 31st. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $40.81 million for the quarter, compared to the consensus estimate of $38.32 million. Dorian LPG had a negative return on equity of 4.58% and a negative net margin of 20.11%. On average, research analysts predict that Dorian LPG will post -0.71 EPS for the current year.

A number of hedge funds have recently modified their holdings of LPG. Donald Smith & CO. Inc. purchased a new position in shares of Dorian LPG in the second quarter valued at approximately $132,000. Barclays PLC lifted its position in shares of Dorian LPG by 127.0% in the first quarter. Barclays PLC now owns 17,837 shares of the shipping company’s stock valued at $134,000 after acquiring an additional 9,980 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Dorian LPG in the third quarter valued at approximately $157,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Dorian LPG in the second quarter valued at approximately $184,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Dorian LPG by 61.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 60,270 shares of the shipping company’s stock valued at $461,000 after acquiring an additional 23,000 shares in the last quarter. Institutional investors own 56.93% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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