Ardmore Shipping (NYSE:ASC) PT Raised to $21.00 at Jefferies Financial Group

Ardmore Shipping (NYSE:ASC) had its price objective upped by analysts at Jefferies Financial Group from $20.00 to $21.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 2.89% from the stock’s current price.

Several other research firms have also recently weighed in on ASC. StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus increased their target price on shares of Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 19th.

Ardmore Shipping Stock Up 0.3 %

Shares of ASC stock opened at $20.41 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.38 and a current ratio of 3.75. The firm’s 50-day moving average is $16.52 and its 200-day moving average is $15.31. The stock has a market cap of $829.20 million, a price-to-earnings ratio of 7.48 and a beta of 0.36. Ardmore Shipping has a 52-week low of $11.59 and a 52-week high of $20.52.

Ardmore Shipping (NYSE:ASC) last issued its earnings results on Wednesday, May 8th. The shipping company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. The company had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $72.46 million. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. Ardmore Shipping’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 EPS. Sell-side analysts predict that Ardmore Shipping will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Ardmore Shipping by 51.1% during the 4th quarter. Russell Investments Group Ltd. now owns 606,898 shares of the shipping company’s stock worth $8,551,000 after acquiring an additional 205,245 shares in the last quarter. Glenorchy Capital Ltd acquired a new stake in shares of Ardmore Shipping during the 4th quarter worth approximately $2,081,000. Wellington Management Group LLP boosted its position in shares of Ardmore Shipping by 23.9% during the 4th quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock worth $9,816,000 after acquiring an additional 134,233 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ardmore Shipping during the 1st quarter worth approximately $2,170,000. Finally, Tejara Capital Ltd acquired a new stake in shares of Ardmore Shipping during the 3rd quarter worth approximately $1,171,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

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.