Noble Financial Sticks to Its Buy Rating for Eagle Bulk Shipping (EGLE)

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 $30.00. The company’s shares closed last Friday at $22.13.

According to TipRanks.com, Fratt is a 5-star analyst with an average return of 32.2% and a 55.0% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Great Lakes Dredge & Dock, and Orion Group Holdings.

Currently, the analyst consensus on Eagle Bulk Shipping is a Moderate Buy with an average price target of $25.08, representing a 14.4% upside. In a report issued on January 20, B.Riley Financial also maintained a Buy rating on the stock with a $27.25 price target.

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Eagle Bulk Shipping’s market cap is currently $275M and has a P/E ratio of -5.00. The company has a Price to Book ratio of 0.62.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.