Stifel Nicolaus Boosts Ardmore Shipping (NYSE:ASC) Price Target to $22.00

Ardmore Shipping (NYSE:ASC) had its price target upped by analysts at Stifel Nicolaus from $21.00 to $22.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 38.54% from the stock’s current price.

Other equities analysts have also issued reports about the company. StockNews.com lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 15th.

Ardmore Shipping Price Performance

NYSE:ASC opened at $15.88 on Friday. The firm has a market cap of $645.16 million, a price-to-earnings ratio of 5.82 and a beta of 0.38. Ardmore Shipping has a 12-month low of $11.59 and a 12-month high of $17.05. The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $16.20 and its two-hundred day moving average is $14.90.

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

Hedge Funds Weigh In On Ardmore Shipping

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clear Street Markets LLC purchased a new stake in shares of Ardmore Shipping during the first quarter valued at approximately $36,000. Eqis Capital Management Inc. acquired a new stake in Ardmore Shipping during the 1st quarter valued at $46,000. Sunbelt Securities Inc. acquired a new position in Ardmore Shipping in the 1st quarter worth $54,000. Tower Research Capital LLC TRC boosted its position in Ardmore Shipping by 253.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,621 shares of the shipping company’s stock valued at $60,000 after buying an additional 3,315 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Ardmore Shipping by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 2,042 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.

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.