Blurbs

Jefferies Remains a Buy on Eagle Bulk Shipping (EGLE)

In a report released on August 5, Omar Nokta from Jefferies reiterated a Buy rating on Eagle Bulk Shipping (EGLEResearch Report), with a price target of $64.00. The company’s shares closed last Friday at $50.99.

Nokta covers the Industrial Goods sector, focusing on stocks such as Capital Product, Eagle Bulk Shipping, and Global Ship Lease. According to TipRanks, Nokta has an average return of 16.6% and a 57.58% success rate on recommended stocks.

Currently, the analyst consensus on Eagle Bulk Shipping is a Strong Buy with an average price target of $80.60, a 58.07% upside from current levels. In a report released today, Noble Financial also maintained a Buy rating on the stock with a $84.00 price target.

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EGLE market cap is currently $698.2M and has a P/E ratio of 3.56.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGLE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.

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