In a report released today, Poe Fratt from Alliance Global Partners initiated coverage with a Buy rating on Grindrod Shipping Holdings (GRIN – Research Report) and a price target of $32.00. The company’s shares closed last Wednesday at $18.48.
Fratt has an average return of 100.1% when recommending Grindrod Shipping Holdings.
According to TipRanks.com, Fratt is ranked #31 out of 7991 analysts.
Currently, the analyst consensus on Grindrod Shipping Holdings is a Moderate Buy with an average price target of $31.50.
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Grindrod Shipping Holdings’ market cap is currently $335.7M and has a P/E ratio of 4.61.
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Grindrod Shipping Holdings Ltd. engages in the provision of maritime transportation services. It operates through the Drybulk Carriers and Tankers business segments. The Drybulk Carriers business segment transports a range of major and minor bulk and breakbulk commodities with its handysize and supramax vessels. The Tankers business segment owns and charter-in small and medium range tankers used in carrying liquid and petroleum products. The company was founded in 1910 and is headquartered in Singapore.
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