Noble Financial Believes Eagle Bulk Shipping (NASDAQ: EGLE) Won’t Stop Here

Noble Financial analyst Poe Fratt maintained a Buy rating on Eagle Bulk Shipping (EGLEResearch Report) today and set a price target of $30.00. The company’s shares closed last Thursday at $25.95, close to its 52-week high of $26.41.

According to, Fratt is a 5-star analyst with an average return of 37.5% and a 57.1% 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 $25.65 average price target, a 1.2% upside from current levels. In a report issued on February 8, BTIG also initiated coverage with a Buy rating on the stock with a $28.00 price target.

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Eagle Bulk Shipping’s market cap is currently $322.5M and has a P/E ratio of -5.70. The company has a Price to Book ratio of 0.70.

Based on the recent corporate insider activity of 9 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.