Ardmore Shipping (NYSE:ASC – Get Rating) had its target price raised by stock analysts at HC Wainwright from $5.50 to $8.50 in a research note issued to investors on Friday, The Fly reports. HC Wainwright’s price target suggests a potential upside of 54.26% from the stock’s current price.
A number of other research analysts have also issued reports on ASC. UBS Group lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a report on Thursday, December 23rd. StockNews.com began coverage on Ardmore Shipping in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Finally, Fearnley Fonds downgraded Ardmore Shipping to a “hold” rating and set a $4.10 target price on the stock. in a research report on Thursday, December 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.78.
ASC stock opened at $5.51 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.61 and a quick ratio of 1.42. The firm has a market capitalization of $182.86 million, a P/E ratio of -4.92 and a beta of 0.64. The business’s 50-day moving average is $4.56 and its two-hundred day moving average is $4.03. Ardmore Shipping has a 1 year low of $3.07 and a 1 year high of $5.67.
Ardmore Shipping (NYSE:ASC – Get Rating) last released its quarterly earnings results on Tuesday, February 15th. The shipping company reported ($0.25) EPS for the quarter, hitting the consensus estimate of ($0.25). The company had revenue of $27.87 million for the quarter, compared to analyst estimates of $29.55 million. Ardmore Shipping had a negative return on equity of 11.74% and a negative net margin of 19.14%. During the same quarter in the previous year, the company posted ($0.39) earnings per share. On average, analysts expect that Ardmore Shipping will post -0.13 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in ASC. Private Management Group Inc. increased its stake in Ardmore Shipping by 23.6% in the third quarter. Private Management Group Inc. now owns 2,695,675 shares of the shipping company’s stock valued at $11,187,000 after purchasing an additional 514,818 shares during the last quarter. Royce & Associates LP increased its stake in Ardmore Shipping by 7.9% during the fourth quarter. Royce & Associates LP now owns 1,853,307 shares of the shipping company’s stock worth $6,264,000 after acquiring an additional 135,000 shares during the last quarter. Franklin Resources Inc. increased its stake in Ardmore Shipping by 14.1% during the third quarter. Franklin Resources Inc. now owns 998,200 shares of the shipping company’s stock worth $4,143,000 after acquiring an additional 123,300 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Ardmore Shipping during the third quarter worth about $394,000. Finally, B. Riley Wealth Management Inc. acquired a new stake in Ardmore Shipping during the third quarter worth about $208,000. Hedge funds and other institutional investors own 60.11% of the company’s stock.
Ardmore Shipping Company Profile (Get Rating)
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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