Ardmore Shipping (ASC) Receives $10.60 Average PT from Analysts

Shares of Ardmore Shipping (NYSE:ASC) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.60.

ASC has been the subject of several research analyst reports. Zacks Investment Research cut Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Seaport Global Securities set a $12.00 price objective on Ardmore Shipping and gave the stock a “buy” rating in a research note on Thursday, January 4th. Stifel Nicolaus set a $9.00 price objective on Ardmore Shipping and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Jefferies Group initiated coverage on Ardmore Shipping in a research note on Monday, December 18th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, JPMorgan Chase raised their price objective on Ardmore Shipping from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, March 23rd.

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A number of hedge funds have recently made changes to their positions in ASC. Two Sigma Securities LLC purchased a new position in Ardmore Shipping during the fourth quarter valued at approximately $203,000. The Manufacturers Life Insurance Company raised its position in Ardmore Shipping by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after acquiring an additional 1,306 shares in the last quarter. Two Sigma Investments LP purchased a new position in Ardmore Shipping during the fourth quarter valued at approximately $535,000. Vanguard Group Inc. raised its position in Ardmore Shipping by 16.7% during the second quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock valued at $721,000 after acquiring an additional 12,631 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Ardmore Shipping by 57.2% in the fourth quarter. Deutsche Bank AG now owns 102,105 shares of the shipping company’s stock valued at $815,000 after purchasing an additional 37,135 shares during the period. Institutional investors own 88.07% of the company’s stock.

Shares of NYSE:ASC traded down $0.30 during trading on Friday, hitting $7.50. The stock had a trading volume of 206,827 shares, compared to its average volume of 149,626. Ardmore Shipping has a 12-month low of $6.40 and a 12-month high of $9.05. The stock has a market cap of $251.82, a price-to-earnings ratio of -20.27 and a beta of 0.95. The company has a quick ratio of 1.27, a current ratio of 1.44 and a debt-to-equity ratio of 1.07.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. Ardmore Shipping had a negative return on equity of 3.16% and a negative net margin of 6.37%. The firm had revenue of $30.23 million during the quarter, compared to analysts’ expectations of $30.24 million. During the same period last year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. equities analysts anticipate that Ardmore Shipping will post 0.1 EPS for the current fiscal year.

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Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals through product and chemical tankers worldwide. As of December 31, 2016, the company operated 27 vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

Analyst Recommendations for Ardmore Shipping (NYSE:ASC)

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