In a report released today, Michael Heim from Noble Financial maintained a Buy rating on Eagle Bulk Shipping (EGLE – Research Report), with a price target of $84.00. The company’s shares closed last Friday at $50.99.
According to TipRanks, Heim is ranked #87 out of 7941 analysts.
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 on August 3, Alliance Global Partners also initiated coverage with a Buy rating on the stock with a $85.00 price target.
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.
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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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