Noble Financial reiterated their buy rating on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have a $6.40 price target on the shipping company’s stock.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Westport Fuel Systems from a buy rating to a hold rating in a report on Friday, July 19th. Maxim Group set a $7.00 target price on Eagle Bulk Shipping and gave the stock a buy rating in a research note on Wednesday, May 8th. ValuEngine raised Zimmer Biomet from a hold rating to a buy rating in a research note on Saturday. Finally, Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $6.68.

NASDAQ:EGLE opened at $4.67 on Friday. Eagle Bulk Shipping has a 52 week low of $3.85 and a 52 week high of $5.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.30 and a quick ratio of 1.13. The stock has a market capitalization of $335.76 million, a P/E ratio of 25.94 and a beta of 1.28. The company has a fifty day simple moving average of $5.12.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, May 7th. The shipping company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. Eagle Bulk Shipping had a return on equity of 2.25% and a net margin of 4.07%. The company had revenue of $51.48 million for the quarter, compared to the consensus estimate of $47.72 million. Equities analysts expect that Eagle Bulk Shipping will post 0.09 EPS for the current year.

In related news, CEO Gary Vogel sold 32,120 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $5.65, for a total transaction of $181,478.00. Following the completion of the transaction, the chief executive officer now directly owns 1,105,432 shares of the company’s stock, valued at approximately $6,245,690.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Oaktree Capital Group Holdings bought 146,200 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average cost of $4.62 per share, with a total value of $675,444.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,734,100 shares of company stock valued at $8,197,755 over the last three months. 4.10% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in EGLE. Dimensional Fund Advisors LP boosted its position in shares of Eagle Bulk Shipping by 27.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock worth $7,231,000 after acquiring an additional 334,039 shares in the last quarter. Royce & Associates LP boosted its position in shares of Eagle Bulk Shipping by 14.3% during the 1st quarter. Royce & Associates LP now owns 2,031,307 shares of the shipping company’s stock worth $9,446,000 after acquiring an additional 253,833 shares in the last quarter. Oaktree Capital Management LP boosted its position in shares of Eagle Bulk Shipping by 0.6% during the 1st quarter. Oaktree Capital Management LP now owns 26,267,467 shares of the shipping company’s stock worth $122,143,000 after acquiring an additional 157,931 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Eagle Bulk Shipping by 14.6% during the 4th quarter. Geode Capital Management LLC now owns 752,393 shares of the shipping company’s stock worth $3,468,000 after acquiring an additional 95,850 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Eagle Bulk Shipping by 4.0% during the 4th quarter. BlackRock Inc. now owns 2,438,317 shares of the shipping company’s stock worth $11,240,000 after acquiring an additional 93,472 shares in the last quarter. 84.11% of the stock is owned by institutional investors and hedge funds.

About Eagle Bulk Shipping

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

Further Reading: Asset Allocation Models, Which is Right For You?

Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.