Ardmore Shipping (NYSE:ASC – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
Several other research analysts have also recently weighed in on the company. HC Wainwright lifted their price target on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research report on Friday, April 22nd. TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, April 27th. Jefferies Financial Group assumed coverage on Ardmore Shipping in a research report on Wednesday, July 20th. They set a “buy” rating and a $10.00 price target for the company. Finally, Clarkson Capital reissued a “buy” rating on shares of Ardmore Shipping in a report on Tuesday, June 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.53.
Ardmore Shipping Trading Down 2.4 %
Shares of NYSE:ASC opened at $8.15 on Friday. Ardmore Shipping has a 52-week low of $3.07 and a 52-week high of $8.74. The stock has a market cap of $281.78 million, a price-to-earnings ratio of -7.48 and a beta of 0.28. The company has a quick ratio of 1.66, a current ratio of 1.86 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $7.47 and a 200-day moving average price of $5.72.
Ardmore Shipping (NYSE:ASC – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. 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 business earned ($0.23) earnings per share. Equities analysts predict that Ardmore Shipping will post 2.02 EPS for the current year.
Institutional Investors Weigh In On Ardmore Shipping
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ardmore Shipping by 3.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 134,267 shares of the shipping company’s stock valued at $604,000 after buying an additional 4,007 shares during the period. BlackRock Inc. raised its holdings in shares of Ardmore Shipping by 1.5% in the 1st quarter. BlackRock Inc. now owns 398,318 shares of the shipping company’s stock valued at $1,792,000 after buying an additional 5,789 shares during the period. Dorsey Wright & Associates purchased a new stake in shares of Ardmore Shipping in the 2nd quarter valued at $45,000. Renaissance Technologies LLC raised its holdings in shares of Ardmore Shipping by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 27,500 shares of the shipping company’s stock valued at $124,000 after buying an additional 9,000 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Ardmore Shipping in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 66.52% of the company’s stock.
Ardmore Shipping Company Profile
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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