Zacks: Brokerages Set $4.55 Target Price for Pangaea Logistics Solutions Ltd (PANL)

Pangaea Logistics Solutions Ltd (NASDAQ:PANL) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price objective of $4.55 for the company and are expecting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Pangaea Logistics Solutions an industry rank of 235 out of 265 based on the ratings given to its competitors.

PANL has been the subject of several analyst reports. TheStreet raised Pangaea Logistics Solutions from a “d+” rating to a “c-” rating in a research note on Monday, November 27th. ValuEngine raised Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Noble Financial initiated coverage on Pangaea Logistics Solutions in a research note on Tuesday, December 12th. They issued a “buy” rating for the company. Finally, Fearnley Fonds initiated coverage on Pangaea Logistics Solutions in a research note on Tuesday, October 10th. They issued a “buy” rating and a $3.60 price objective for the company.

Shares of Pangaea Logistics Solutions (NASDAQ:PANL) traded down $0.01 during trading on Thursday, hitting $3.36. The stock had a trading volume of 42,800 shares, compared to its average volume of 60,500. The stock has a market capitalization of $147.59, a P/E ratio of 42.00 and a beta of 0.97. Pangaea Logistics Solutions has a 12-month low of $2.14 and a 12-month high of $8.40. The company has a current ratio of 1.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.68.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, November 9th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The firm had revenue of $107.02 million during the quarter. Pangaea Logistics Solutions had a return on equity of 6.90% and a net margin of 1.10%. equities analysts expect that Pangaea Logistics Solutions will post 0.21 EPS for the current fiscal year.

In other news, Director Anthony Laura sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $4.50, for a total value of $58,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 86.15% of the company’s stock.

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About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.

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