8 Best Industrial Stocks To Buy According to Analysts

4. Star Bulk Carriers Corp. (NASDAQ:SBLK)

Number of Hedge Funds: 27

Analyst Upside Potential: 66.32%

Star Bulk Carriers Corp. (NASDAQ:SBLK) is one of the largest dry bulk shipping companies based in Greece. The company operates through a diversified fleet of 159 bulk carriers ranging from Supermax vessels to Newcastlemax vessels. They carry both major bulks, including iron ore, minerals, and grains, and minor bulks which include bauxite, fertilizers, and steel products. It operates internationally through various shipping routes.

The company continued its strong financial performance during the second quarter of fiscal 2024. During the quarter the company achieved a net income of $106.1 million, indicating a substantial increase from $44.3 million in the comparable quarter in 2023.

In addition, the voyage revenue also increased significantly from $238.7 million in 2023 to $352.9 million during the second quarter of fiscal 2024. Management attributed the revenue increase to a rise in the average number of vessels operated, which grew from 126.4 to 155.0, along with an increase in charter rates.

Star Bulk Carriers Corp. (NASDAQ:SBLK) ranks as the 4th best industrial stock to buy according to analysts. It was held by 27 hedge funds in Q2 2024, as per Insider Monkey’s database.