Pangaea Logistics Solutions (NASDAQ:PANL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “Pangaea Logistics Solutions Ltd. operates as a global logistics company. It provides seaborne drybulk transportation services. The Company provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. It provides dry bulk cargo transportation services for steel, aluminum, energy, agricultural, and other sectors. Pangaea Logistics Solutions Ltd. is headquartered in Newport, Rhode Island. “
Several other research analysts also recently commented on the stock. ValuEngine upgraded shares of Pangaea Logistics Solutions from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. TheStreet downgraded shares of Pangaea Logistics Solutions from a “b-” rating to a “c+” rating in a research report on Wednesday, November 21st. Finally, Noble Financial restated a “buy” rating and set a $5.50 price objective on shares of Pangaea Logistics Solutions in a research report on Tuesday, November 13th.
Shares of PANL stock opened at $3.01 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.25. The company has a market capitalization of $128.18 million, a P/E ratio of 7.92 and a beta of 0.22. Pangaea Logistics Solutions has a 1 year low of $2.13 and a 1 year high of $3.90.
Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Friday, November 9th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Pangaea Logistics Solutions had a net margin of 6.00% and a return on equity of 10.59%. The company had revenue of $95.35 million during the quarter, compared to the consensus estimate of $120.45 million. As a group, analysts predict that Pangaea Logistics Solutions will post 0.5 earnings per share for the current year.
A hedge fund recently raised its stake in Pangaea Logistics Solutions stock. Dimensional Fund Advisors LP lifted its stake in shares of Pangaea Logistics Solutions Ltd (NASDAQ:PANL) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,195 shares of the shipping company’s stock after buying an additional 37,370 shares during the period. Dimensional Fund Advisors LP owned about 0.18% of Pangaea Logistics Solutions worth $284,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 27.08% of the company’s stock.
About Pangaea Logistics Solutions
Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.
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