Star Bulk Carriers (SBLK) – Investment Analysts’ Recent Ratings Changes

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Several analysts have recently updated their ratings and price targets for Star Bulk Carriers (NASDAQ: SBLK):

  • 6/21/2018 – Star Bulk Carriers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/20/2018 – Star Bulk Carriers had its price target raised by analysts at Deutsche Bank AG to $17.00. They now have a “buy” rating on the stock.
  • 6/13/2018 – Star Bulk Carriers had its price target raised by analysts at Morgan Stanley from $14.00 to $15.00. They now have an “overweight” rating on the stock.
  • 6/13/2018 – Star Bulk Carriers was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “
  • 6/7/2018 – Star Bulk Carriers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/25/2018 – Star Bulk Carriers was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 5/24/2018 – Star Bulk Carriers was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $15.00 price target on the stock. According to Zacks, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers. “
  • 5/5/2018 – Star Bulk Carriers was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/2/2018 – Star Bulk Carriers was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

SBLK opened at $14.09 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.83. Star Bulk Carriers Corp. has a fifty-two week low of $8.52 and a fifty-two week high of $14.60. The stock has a market capitalization of $903.92 million, a P/E ratio of -64.05 and a beta of 2.32.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of Star Bulk Carriers by 262.1% in the 1st quarter. Millennium Management LLC now owns 666,607 shares of the shipping company’s stock worth $7,753,000 after acquiring an additional 482,501 shares during the last quarter. Leucadia National Corp raised its holdings in shares of Star Bulk Carriers by 27.9% in the 4th quarter. Leucadia National Corp now owns 455,577 shares of the shipping company’s stock worth $5,130,000 after acquiring an additional 99,320 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Star Bulk Carriers in the 4th quarter worth about $4,170,000. J. Goldman & Co LP raised its holdings in shares of Star Bulk Carriers by 71.5% in the 4th quarter. J. Goldman & Co LP now owns 285,000 shares of the shipping company’s stock worth $3,209,000 after acquiring an additional 118,846 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Star Bulk Carriers by 12.4% in the 4th quarter. Royce & Associates LP now owns 244,000 shares of the shipping company’s stock valued at $2,747,000 after buying an additional 27,000 shares during the last quarter. Institutional investors own 69.02% of the company’s stock.

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of May 14, 2018, the company had a fleet of 108 vessels with an aggregate capacity of approximately 12.26 million deadweight ton (dwt), including 17 Newcastlemax, 18 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 11 Supramax vessels.

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