Dorian LPG (NYSE:LPG) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Dorian LPG (NYSE:LPG) from a strong-buy rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Dorian LPG has a consensus rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Price Performance

Shares of LPG stock opened at $53.53 on Friday. The business’s fifty day moving average is $49.71 and its 200 day moving average is $42.21. 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 market cap of $2.29 billion, a price-to-earnings ratio of 7.09 and a beta of 0.61. Dorian LPG has a twelve month low of $23.76 and a twelve month high of $59.97.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The business had revenue of $187.88 million during 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 revenue for the quarter was up 123.1% on a year-over-year basis.

Dorian LPG Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, July 27th.

Insider Activity

In related news, CFO Theodore B. Young sold 11,919 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.50, for a total value of $649,585.50. Following the transaction, the chief financial officer owned 107,794 shares in the company, valued at $5,874,773. The trade was a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tim Hansen sold 50,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the sale, the insider directly owned 107,675 shares in the company, valued at $5,719,696. This trade represents a 31.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Dorian LPG during the first quarter valued at approximately $11,929,000. Pacer Advisors Inc. raised its holdings in Dorian LPG by 2,540.0% in the 1st quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock worth $6,513,000 after acquiring an additional 183,232 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Dorian LPG by 227.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after acquiring an additional 149,787 shares during the last quarter. Empowered Funds LLC lifted its position in Dorian LPG by 117.5% in the 1st quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock valued at $6,738,000 after acquiring an additional 106,428 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Dorian LPG by 76.6% during the 1st quarter. First Trust Advisors LP now owns 181,420 shares of the shipping company’s stock valued at $6,205,000 after purchasing an additional 78,710 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.