Noble Financial Sticks to Its Buy Rating for Pangaea Logistics Solutions (PANL)

Noble Financial analyst Poe Fratt maintained a Buy rating on Pangaea Logistics Solutions (PANLResearch Report) today and set a price target of $6.50. The company’s shares closed last Monday at $4.85.

According to TipRanks.com, Fratt is a top 100 analyst with an average return of 49.6% and a 57.4% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Grindrod Shipping Holdings, Energy Services of America, and Great Lakes Dredge & Dock.

Currently, the analyst consensus on Pangaea Logistics Solutions is a Moderate Buy with an average price target of $7.00, implying a 34.1% upside from current levels. In a report issued on September 17, B.Riley Financial also initiated coverage with a Buy rating on the stock with a $7.50 price target.

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Pangaea Logistics Solutions’ market cap is currently $221.2M and has a P/E ratio of 6.20. The company has a Price to Book ratio of 1.22.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PANL in relation to earlier this year.

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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne drybulk logistics and transportation services. It operates a fleet of Supramax, Panamax, and Handymax vessels. The company was founded by Edward Coll, Carl Claus Boggild, and Anthony Laura on April 29, 2014 and is headquartered in Newport, RI.