DNB Markets Downgrades Dorian LPG (NYSE:LPG) to Hold

Dorian LPG (NYSE:LPG) was downgraded by equities researchers at DNB Markets from a “buy” rating to a “hold” rating in a research report issued on Friday, June 21st, MarketBeat.com reports.

LPG has been the subject of a number of other research reports. Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Wednesday, June 5th. ValuEngine raised United Overseas Bank from a “sell” rating to a “hold” rating in a report on Monday, June 17th.

Shares of Dorian LPG stock traded down $0.09 during trading on Friday, reaching $9.60. 284,840 shares of the company’s stock were exchanged, compared to its average volume of 464,861. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Dorian LPG has a 1-year low of $5.26 and a 1-year high of $10.06. The stock has a market cap of $534.58 million, a P/E ratio of -12.15 and a beta of 1.20. The company has a 50-day simple moving average of $8.39.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, May 23rd. The shipping company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). Dorian LPG had a negative return on equity of 4.65% and a negative net margin of 32.24%. The business had revenue of $34.47 million for the quarter, compared to analyst estimates of $37.43 million. As a group, sell-side analysts anticipate that Dorian LPG will post -0.13 EPS for the current fiscal year.

In related news, CFO Theodore B. Young sold 4,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $9.36, for a total transaction of $42,120.00. Following the sale, the chief financial officer now owns 122,253 shares in the company, valued at approximately $1,144,288.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Group Ltd Bw sold 75,647 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $9.12, for a total value of $689,900.64. The disclosure for this sale can be found here. In the last three months, insiders sold 1,119,054 shares of company stock valued at $10,225,914. Insiders own 26.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Dorian LPG by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,177,510 shares of the shipping company’s stock valued at $18,525,000 after purchasing an additional 164,524 shares in the last quarter. Royce & Associates LP boosted its position in shares of Dorian LPG by 5.8% during the 4th quarter. Royce & Associates LP now owns 2,471,171 shares of the shipping company’s stock valued at $14,407,000 after purchasing an additional 136,032 shares in the last quarter. BlackRock Inc. boosted its position in shares of Dorian LPG by 2.2% during the 4th quarter. BlackRock Inc. now owns 1,794,563 shares of the shipping company’s stock valued at $10,462,000 after purchasing an additional 39,309 shares in the last quarter. Private Management Group Inc. boosted its position in shares of Dorian LPG by 11.5% during the 1st quarter. Private Management Group Inc. now owns 620,176 shares of the shipping company’s stock valued at $3,982,000 after purchasing an additional 63,994 shares in the last quarter. Finally, United Services Automobile Association boosted its position in shares of Dorian LPG by 1.0% during the 4th quarter. United Services Automobile Association now owns 572,087 shares of the shipping company’s stock valued at $3,335,000 after purchasing an additional 5,920 shares in the last quarter. Institutional investors own 53.99% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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