Star Bulk Carriers Corp. (SBLK) Receives $13.20 Average Target Price from Analysts

Star Bulk Carriers Corp. (NASDAQ:SBLK) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.20.

A number of equities analysts have recently issued reports on SBLK shares. Zacks Investment Research downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group reissued a “buy” rating and set a $15.00 target price on shares of Star Bulk Carriers in a research note on Thursday, October 19th. TheStreet downgraded Star Bulk Carriers from a “c” rating to a “d+” rating in a research note on Thursday, September 28th. Pareto Securities raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers and gave the stock a “hold” rating in a research note on Sunday, October 22nd.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBLK. Capital Fund Management S.A. purchased a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $103,000. Dynamic Technology Lab Private Ltd purchased a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $110,000. GLG Partners LP purchased a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $127,000. KCG Holdings Inc. purchased a new position in Star Bulk Carriers in the 1st quarter valued at approximately $140,000. Finally, State Street Corp purchased a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $176,000. 70.43% of the stock is owned by hedge funds and other institutional investors.

Shares of Star Bulk Carriers (SBLK) traded down $0.02 during mid-day trading on Thursday, hitting $10.63. The stock had a trading volume of 504,607 shares, compared to its average volume of 519,255. Star Bulk Carriers has a fifty-two week low of $4.63 and a fifty-two week high of $13.40. The company has a quick ratio of 6.93, a current ratio of 6.93 and a debt-to-equity ratio of 0.96.

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About Star Bulk Carriers

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).

Analyst Recommendations for Star Bulk Carriers (NASDAQ:SBLK)

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