Shares of Ardmore Shipping Co. (NYSE:ASC – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.53.
Several research firms recently issued reports on ASC. Jefferies Financial Group started coverage on Ardmore Shipping in a research note on Wednesday, July 20th. They set a “buy” rating and a $10.00 price objective for the company. TheStreet raised Ardmore Shipping from a “d+” rating to a “c-” rating in a report on Wednesday, April 27th. HC Wainwright raised their target price on shares of Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 22nd. StockNews.com upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Finally, Clarkson Capital restated a “buy” rating on shares of Ardmore Shipping in a research report on Tuesday, June 14th.
Institutional Trading of Ardmore Shipping
Several hedge funds and other institutional investors have recently bought and sold shares of ASC. Private Management Group Inc. lifted its stake in shares of Ardmore Shipping by 1.7% in the 1st quarter. Private Management Group Inc. now owns 2,815,681 shares of the shipping company’s stock valued at $12,671,000 after acquiring an additional 47,103 shares during the last quarter. Royce & Associates LP lifted its position in Ardmore Shipping by 2.4% in the first quarter. Royce & Associates LP now owns 1,898,286 shares of the shipping company’s stock valued at $8,542,000 after purchasing an additional 44,979 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ardmore Shipping by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,739,447 shares of the shipping company’s stock valued at $7,828,000 after purchasing an additional 26,216 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of Ardmore Shipping by 1.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 838,898 shares of the shipping company’s stock worth $2,835,000 after purchasing an additional 14,844 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Ardmore Shipping by 1.5% in the first quarter. BlackRock Inc. now owns 398,318 shares of the shipping company’s stock worth $1,792,000 after buying an additional 5,789 shares during the period. Hedge funds and other institutional investors own 66.52% of the company’s stock.
Ardmore Shipping Stock Down 2.3 %
ASC stock opened at $8.34 on Friday. Ardmore Shipping has a twelve month low of $3.07 and a twelve month high of $8.99. The firm has a market capitalization of $288.35 million, a PE ratio of -208.45 and a beta of 0.36. The company has a quick ratio of 2.25, a current ratio of 2.54 and a debt-to-equity ratio of 0.87. The stock has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $5.85.
Ardmore Shipping (NYSE:ASC – Get Rating) last posted its earnings results on Wednesday, July 27th. The shipping company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. Ardmore Shipping had a net margin of 0.92% and a return on equity of 2.52%. During the same quarter last year, the firm posted ($0.23) EPS. On average, equities analysts predict that Ardmore Shipping will post 2.41 EPS for the current fiscal year.
About Ardmore Shipping
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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