Shipping stocks were off to the races on Monday after a pair of upgrades within the sector.

Deutsche Bank upgraded Genco Shipping & Trading (NYSE: GNK - News) to Buy, lifting its price target to $31 from $24 this morning. Though cautious on the sector as a whole, the analyst also upped its rating on Eagle Bulk Shipping (NASDAQ: EGLE - News) to Hold with a price target of $4.50. The stocks are up by 8% and 9% respectively during today's session, with the sector also getting a boost from the continued surge of the industry pricing benchmark Baltic Dry Index (BDI).

As a whole, the Dry Bulk Shipping Stocks Index is up by 3.2% today. All thirteen components are positive for the session, and the group has now outperformed the S&P 500 by 6% over the last month.

Navios Maritime Holdings (NYSE: NM - News), Paragon Shipping (NASDAQ: PRGN - News), and Star Bulk Carriers (NASDAQ: SBLK - News) are among the sector's top performers today. Navios will report its quarterly numbers on Wednesday before the market opens. Star Bulk Carriers will report a week from today, on November 23.

Over the last week, Genco, Diana Shipping (NYSE: DSX - News) and Safe Bulkers (NYSE: SB - News) are up by over 17%. Meanwhile, six other components are up by more than 10% for the period. Meanwhile, Kirby (NYSE: KEX - News) and Steamship Co. Torm A/S (NASDAQ: TRMD - News) are laggards over the last five sessions, the latter off by more than -2%.

As of this writing, the Dry Bulk Shipping Stocks Index is one of the top-5 performing tickerspy Indexes over the last month, up by 8%. It is also consistently among the 15 cheapest tickerspy Indexes by P/E ratio with an average multiple of just 12.2x.

Investors can track the Dry Bulk Shipping Stocks Index for performance trends and a suite of other metrics at tickerspy.com.

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