Wall Street Zen Downgrades Dorian LPG (NYSE:LPG) to Buy

Dorian LPG (NYSE:LPG) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

LPG has been the topic of a number of other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dorian LPG presently has an average rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Stock Up 0.2%

Shares of Dorian LPG stock opened at $53.53 on Friday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 7.09 and a beta of 0.61. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $49.71 and a two-hundred day moving average price of $42.26. Dorian LPG has a 12-month low of $23.76 and a 12-month high of $59.97.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.40. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The company had revenue of $187.88 million for the quarter, compared to analyst estimates of $160.78 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 123.1% compared to the same quarter last year.

Insiders Place Their Bets

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $54.13, for a total value of $270,650.00. Following the sale, the chief operating officer owned 95,836 shares in the company, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Theodore B. Young sold 11,919 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the completion of the sale, the chief financial officer directly owned 107,794 shares in the company, valued at approximately $5,874,773. The trade was a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 126,000 shares of company stock worth $6,163,449 over the last three months. 13.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors have recently added to or reduced their stakes in LPG. Sequoia Financial Advisors LLC grew its stake in Dorian LPG by 4.4% during the second quarter. Sequoia Financial Advisors LLC now owns 7,341 shares of the shipping company’s stock worth $255,000 after buying an additional 307 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Dorian LPG during the second quarter worth approximately $57,000. Allworth Financial LP increased its holdings in shares of Dorian LPG by 65.9% during the second quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock worth $42,000 after buying an additional 479 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of Dorian LPG in the second quarter valued at approximately $253,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Dorian LPG in the second quarter valued at approximately $1,478,000. 62.50% of the stock is owned by institutional investors.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG’s fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.