Dorian LPG (NYSE:LPG) Upgraded by DNB Markets to “Buy”

Dorian LPG (NYSE:LPG) was upgraded by research analysts at DNB Markets from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com reports. The firm presently has a $52.00 price objective on the shipping company’s stock. DNB Markets’ price target would suggest a potential upside of 23.57% from the company’s current price.

LPG has been the subject of several other research reports. Jefferies Financial Group raised their target price on Dorian LPG from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. StockNews.com cut Dorian LPG from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd.

Dorian LPG Price Performance

Shares of LPG stock opened at $42.08 on Wednesday. The stock has a 50 day moving average of $44.04 and a two-hundred day moving average of $41.16. The company has a current ratio of 3.62, a quick ratio of 3.60 and a debt-to-equity ratio of 0.54. Dorian LPG has a 12 month low of $24.17 and a 12 month high of $51.66. The company has a market capitalization of $1.71 billion, a P/E ratio of 5.54 and a beta of 0.97.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. Dorian LPG had a return on equity of 32.22% and a net margin of 54.83%. The company had revenue of $141.40 million during the quarter, compared to the consensus estimate of $144.25 million. During the same quarter last year, the company earned $1.94 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Dorian LPG will post 6.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Capital Group California Inc. bought a new stake in shares of Dorian LPG in the fourth quarter valued at about $1,065,000. Harvest Investment Services LLC bought a new stake in shares of Dorian LPG in the fourth quarter valued at about $1,424,000. Vanguard Group Inc. lifted its holdings in shares of Dorian LPG by 13.9% in the third quarter. Vanguard Group Inc. now owns 1,479,325 shares of the shipping company’s stock valued at $42,501,000 after purchasing an additional 180,246 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Dorian LPG by 12.9% in the third quarter. American Century Companies Inc. now owns 521,274 shares of the shipping company’s stock valued at $14,976,000 after purchasing an additional 59,580 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Dorian LPG by 45.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,342,303 shares of the shipping company’s stock valued at $58,887,000 after purchasing an additional 416,809 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.