Dorian LPG (LPG) Stock Rating Lowered by Zacks Investment Research

Dorian LPG (NYSE:LPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “

A number of other equities analysts also recently issued reports on the company. ValuEngine upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. DNB Markets downgraded Dorian LPG from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Shares of Dorian LPG (NYSE:LPG) opened at $8.28 on Wednesday. Dorian LPG has a one year low of $6.20 and a one year high of $12.50. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $446.43, a PE ratio of -39.43 and a beta of 1.20.

Dorian LPG (NYSE:LPG) last issued its earnings results on Friday, November 3rd. The shipping company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Dorian LPG had a negative return on equity of 4.06% and a negative net margin of 7.30%. The firm had revenue of $34.73 million for the quarter, compared to the consensus estimate of $31.13 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. research analysts expect that Dorian LPG will post -0.66 EPS for the current fiscal year.

In other Dorian LPG news, Director Christina Tan purchased 10,000 shares of the stock in a transaction on Friday, December 8th. The shares were bought at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the completion of the transaction, the director now owns 39,475 shares of the company’s stock, valued at approximately $276,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 26.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of LPG. Royce & Associates LP boosted its position in Dorian LPG by 41.7% during the second quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock worth $8,547,000 after purchasing an additional 307,597 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Dorian LPG during the second quarter worth approximately $2,487,000. Dimensional Fund Advisors LP boosted its position in Dorian LPG by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,537,638 shares of the shipping company’s stock worth $12,578,000 after purchasing an additional 206,202 shares in the last quarter. GSA Capital Partners LLP boosted its position in Dorian LPG by 96.5% during the second quarter. GSA Capital Partners LLP now owns 162,312 shares of the shipping company’s stock worth $1,328,000 after purchasing an additional 79,712 shares in the last quarter. Finally, Oppenheimer & Close LLC boosted its position in Dorian LPG by 3.7% during the second quarter. Oppenheimer & Close LLC now owns 1,216,943 shares of the shipping company’s stock worth $9,954,000 after purchasing an additional 43,369 shares in the last quarter. Institutional investors own 47.71% of the company’s stock.

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About Dorian LPG

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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