Shares of Ardmore Shipping Co. (NYSE:ASC – Get Rating) have been assigned a consensus rating of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.59.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Tuesday, April 26th. HC Wainwright boosted their price objective on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research report on Friday, April 22nd. StockNews.com assumed coverage on Ardmore Shipping in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. Finally, Jefferies Financial Group assumed coverage on Ardmore Shipping in a research report on Wednesday, April 27th. They set a “buy” rating and a $7.50 price target for the company.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASC. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ardmore Shipping by 81.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,321 shares of the shipping company’s stock valued at $437,000 after purchasing an additional 47,189 shares during the last quarter. Institute for Wealth Management LLC. purchased a new stake in Ardmore Shipping during the 1st quarter worth about $140,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Ardmore Shipping during the 4th quarter worth about $100,000. B. Riley Wealth Management Inc. purchased a new stake in Ardmore Shipping during the 3rd quarter worth about $208,000. Finally, First Eagle Investment Management LLC increased its holdings in Ardmore Shipping by 56.2% during the 4th quarter. First Eagle Investment Management LLC now owns 119,739 shares of the shipping company’s stock worth $405,000 after purchasing an additional 43,063 shares during the period. 66.52% of the stock is currently owned by institutional investors.
Shares of ASC stock opened at $7.09 on Friday. The stock has a 50 day moving average of $5.59 and a 200 day moving average of $4.42. The company has a current ratio of 1.86, a quick ratio of 1.66 and a debt-to-equity ratio of 1.10. The stock has a market cap of $245.10 million, a P/E ratio of -6.50 and a beta of 0.30. Ardmore Shipping has a twelve month low of $3.07 and a twelve month high of $7.77.
Ardmore Shipping (NYSE:ASC – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The shipping company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.07. Ardmore Shipping had a negative return on equity of 9.46% and a negative net margin of 16.80%. During the same period in the previous year, the firm earned ($0.26) earnings per share. On average, research analysts predict that Ardmore Shipping will post 0.81 earnings per share for the current fiscal year.
About Ardmore Shipping (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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