Ardmore Shipping (NYSE:ASC) Downgraded to Hold at StockNews.com

Ardmore Shipping (NYSE:ASC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts also recently weighed in on ASC. Stifel Nicolaus lifted their price objective on Ardmore Shipping from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, February 16th. Jefferies Financial Group reissued a “buy” rating and set a $20.00 target price on shares of Ardmore Shipping in a research report on Thursday, February 15th.

Ardmore Shipping Price Performance

Shares of ASC stock opened at $15.59 on Friday. The company’s 50-day simple moving average is $16.20 and its two-hundred day simple moving average is $14.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.75 and a quick ratio of 3.38. Ardmore Shipping has a one year low of $11.59 and a one year high of $17.05. The company has a market capitalization of $633.22 million, a P/E ratio of 5.71 and a beta of 0.38.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Thursday, February 15th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $64.26 million. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. Ardmore Shipping’s revenue was down 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts anticipate that Ardmore Shipping will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Ardmore Shipping

A number of large investors have recently added to or reduced their stakes in ASC. Franklin Resources Inc. grew its position in shares of Ardmore Shipping by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 25,276 shares of the shipping company’s stock worth $356,000 after buying an additional 655 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Ardmore Shipping by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 15,476 shares of the shipping company’s stock worth $218,000 after purchasing an additional 678 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Ardmore Shipping by 4.6% during the fourth quarter. Simplicity Solutions LLC now owns 15,476 shares of the shipping company’s stock worth $218,000 after purchasing an additional 678 shares in the last quarter. Mariner LLC lifted its holdings in shares of Ardmore Shipping by 4.8% during the 3rd quarter. Mariner LLC now owns 16,712 shares of the shipping company’s stock valued at $217,000 after purchasing an additional 772 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Ardmore Shipping by 21.7% in the 4th quarter. Amalgamated Bank now owns 5,375 shares of the shipping company’s stock worth $77,000 after purchasing an additional 960 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.