Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research note released on Saturday.

Several other research firms also recently issued reports on PANL. B. Riley decreased their price objective on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Tuesday. Finally, Zacks Research upgraded Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Pangaea Logistics Solutions currently has a consensus rating of “Buy” and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $6.48 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12-month low of $3.93 and a 12-month high of $6.56. The business’s 50 day moving average is $5.24 and its two-hundred day moving average is $4.97. The company has a market capitalization of $421.03 million, a P/E ratio of 29.46 and a beta of 0.73.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%.The business had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. Analysts expect that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, December 1st. Pangaea Logistics Solutions’s payout ratio is currently 66.67%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Pangaea Logistics Solutions by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after buying an additional 2,864 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Pangaea Logistics Solutions by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,825 shares during the period. Two Sigma Investments LP acquired a new position in shares of Pangaea Logistics Solutions during the 3rd quarter valued at about $63,000. J.W. Cole Advisors Inc. acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter valued at about $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 3,344 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.