Dorian LPG (NYSE:LPG) Downgraded to Hold at Zacks Investment Research

Dorian LPG (NYSE:LPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, December 27th.

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. “

Several other research analysts have also commented on LPG. ValuEngine lowered shares of Dorian LPG from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.17.

Dorian LPG (LPG) opened at $7.78 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.56. The company has a market cap of $428.80, a P/E ratio of -37.05 and a beta of 1.20. Dorian LPG has a 52 week low of $6.20 and a 52 week high of $12.50.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. The firm had revenue of $34.73 million during the quarter, compared to analyst estimates of $31.13 million. Dorian LPG had a negative net margin of 7.30% and a negative return on equity of 4.06%. Dorian LPG’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) EPS. analysts forecast that Dorian LPG will post -0.66 earnings per share for the current year.

In related news, Director Christina Tan bought 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were bought at an average price of $7.00 per share, with a total value of $70,000.00. Following the transaction, the director now owns 39,475 shares in the company, valued at $276,325. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Robotti Robert grew its position in Dorian LPG by 0.3% during the 2nd quarter. Robotti Robert now owns 300,791 shares of the shipping company’s stock worth $2,454,000 after purchasing an additional 791 shares during the last quarter. Voya Investment Management LLC grew its position in Dorian LPG by 21.3% during the 2nd quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock worth $129,000 after purchasing an additional 2,763 shares during the last quarter. Alliancebernstein L.P. grew its position in Dorian LPG by 24.4% during the 2nd quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock worth $238,000 after purchasing an additional 5,700 shares during the last quarter. Numeric Investors LLC grew its position in Dorian LPG by 24.1% during the 2nd quarter. Numeric Investors LLC now owns 55,087 shares of the shipping company’s stock worth $451,000 after purchasing an additional 10,693 shares during the last quarter. Finally, Private Management Group Inc. grew its position in Dorian LPG by 3.9% during the 2nd quarter. Private Management Group Inc. now owns 402,003 shares of the shipping company’s stock worth $3,288,000 after purchasing an additional 14,905 shares during the last quarter. 47.71% of the stock is currently owned by institutional investors.

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About Dorian LPG

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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