Star Bulk Carriers (NASDAQ:SBLK) Earns “Buy” Rating from Jefferies Financial Group

Star Bulk Carriers (NASDAQ:SBLK)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $28.00 price target on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 39.79% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their target price for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, DNB Markets lowered Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers presently has an average rating of “Hold” and an average target price of $25.00.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $20.03 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. The firm’s 50 day simple moving average is $20.83 and its 200-day simple moving average is $22.69. Star Bulk Carriers has a 12 month low of $18.92 and a 12 month high of $27.47. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 7.36 and a beta of 1.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new position in Star Bulk Carriers during the third quarter worth approximately $57,000. Geode Capital Management LLC grew its holdings in shares of Star Bulk Carriers by 359.3% in the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after purchasing an additional 357,720 shares during the period. Barclays PLC increased its position in Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after purchasing an additional 449,113 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Star Bulk Carriers in the 3rd quarter valued at about $1,731,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $648,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.