Star Bulk Carriers (SBLK) Upgraded by BidaskClub to “Buy”

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BidaskClub upgraded shares of Star Bulk Carriers (NASDAQ:SBLK) from a hold rating to a buy rating in a report released on Thursday, June 21st.

Several other equities analysts also recently weighed in on SBLK. Deutsche Bank increased their price target on shares of Star Bulk Carriers to $17.00 and gave the stock a buy rating in a report on Wednesday, June 20th. Zacks Investment Research downgraded shares of Star Bulk Carriers from a strong-buy rating to a hold rating in a report on Wednesday, June 13th. ValuEngine upgraded shares of Star Bulk Carriers from a sell rating to a hold rating in a report on Wednesday, May 2nd. Morgan Stanley increased their price target on shares of Star Bulk Carriers from $14.00 to $15.00 and gave the stock an overweight rating in a report on Wednesday, June 13th. Finally, Stifel Nicolaus upgraded shares of Star Bulk Carriers from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Monday, April 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Star Bulk Carriers presently has a consensus rating of Buy and an average target price of $15.79.

Star Bulk Carriers opened at $12.86 on Thursday, according to Marketbeat. Star Bulk Carriers has a 52-week low of $8.62 and a 52-week high of $14.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.56 and a current ratio of 1.66. The stock has a market cap of $833.99 million, a PE ratio of 41.94 and a beta of 2.32.

A number of institutional investors have recently added to or reduced their stakes in SBLK. Capital Fund Management S.A. purchased a new stake in Star Bulk Carriers in the 4th quarter worth approximately $145,000. Royce & Associates LP boosted its position 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 worth $2,747,000 after purchasing an additional 27,000 shares in the last quarter. Leucadia National Corp boosted its position in 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 purchasing an additional 99,320 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Star Bulk Carriers in the 4th quarter worth approximately $4,170,000. Finally, Clearbridge Investments LLC boosted its position in Star Bulk Carriers by 15.5% in the 4th quarter. Clearbridge Investments LLC now owns 190,540 shares of the shipping company’s stock worth $2,145,000 after purchasing an additional 25,600 shares in the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

About Star Bulk Carriers

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.

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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