Eagle Bulk Shipping (EGLE) Receives a Buy from Noble Financial

In a report released today, Poe Fratt from Noble Financial maintained a Buy rating on Eagle Bulk Shipping (EGLEResearch Report), with a price target of $37.00. The company’s shares closed last Friday at $33.52, close to its 52-week high of $35.97.

According to TipRanks.com, Fratt is a 5-star analyst with an average return of 32.9% and a 55.3% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Grindrod Shipping Holdings, and Great Lakes Dredge & Dock.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Bulk Shipping with a $30.45 average price target, which is a -14.4% downside from current levels. In a report issued on March 5, BTIG also maintained a Buy rating on the stock with a $38.00 price target.

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The company has a one-year high of $35.97 and a one-year low of $8.89. Currently, Eagle Bulk Shipping has an average volume of 80.4K.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.