Dorian LPG (LPG) Raised to “Buy” at Zacks Investment Research

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Dorian LPG (NYSE:LPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $6.25 price objective on the shipping company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.08% from the company’s current price.

According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “

Other research analysts have also recently issued research reports about the company. DNB Markets raised Dorian LPG from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine raised Dorian LPG from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th.

Shares of NYSE LPG opened at $5.73 on Tuesday. Dorian LPG has a one year low of $5.32 and a one year high of $8.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.14 and a current ratio of 1.17. The firm has a market cap of $309.54 million, a PE ratio of -9.24 and a beta of 0.83.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Monday, February 4th. The shipping company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Dorian LPG had a negative return on equity of 4.35% and a negative net margin of 23.65%. The firm had revenue of $55.11 million for the quarter, compared to analysts’ expectations of $47.29 million. As a group, research analysts expect that Dorian LPG will post -0.68 EPS for the current fiscal year.

In related news, Director Christina Tan acquired 20,090 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were bought at an average cost of $6.94 per share, for a total transaction of $139,424.60. Following the purchase, the director now owns 65,993 shares in the company, valued at approximately $457,991.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 26.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LPG. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Dorian LPG during the 3rd quarter valued at $3,700,000. BlackRock Inc. raised its stake in shares of Dorian LPG by 24.0% during the 2nd quarter. BlackRock Inc. now owns 1,748,563 shares of the shipping company’s stock valued at $13,359,000 after purchasing an additional 338,709 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Dorian LPG by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,012,986 shares of the shipping company’s stock valued at $24,013,000 after purchasing an additional 163,930 shares during the period. Royce & Associates LP raised its stake in shares of Dorian LPG by 5.8% during the 4th quarter. Royce & Associates LP now owns 2,471,171 shares of the shipping company’s stock valued at $14,407,000 after purchasing an additional 136,032 shares during the period. Finally, Private Management Group Inc. raised its stake in shares of Dorian LPG by 24.5% during the 4th quarter. Private Management Group Inc. now owns 556,182 shares of the shipping company’s stock valued at $3,243,000 after purchasing an additional 109,390 shares during the period. Institutional investors own 56.01% of the company’s stock.

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 very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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