Ardmore Shipping (NYSE:ASC) Upgraded to “Buy” by StockNews.com

Ardmore Shipping (NYSE:ASCGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts also recently issued reports on ASC. Jefferies Financial Group lifted their price target on shares of Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price target on Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 19th.

Get Our Latest Stock Analysis on Ardmore Shipping

Ardmore Shipping Stock Up 3.8 %

Shares of NYSE ASC opened at $21.93 on Wednesday. The stock has a fifty day moving average price of $16.72 and a 200 day moving average price of $15.44. The company has a market cap of $891.02 million, a P/E ratio of 8.40 and a beta of 0.36. Ardmore Shipping has a 12-month low of $11.59 and a 12-month high of $21.96. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04.

Ardmore Shipping (NYSE:ASCGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.87 by $0.05. Ardmore Shipping had a return on equity of 21.06% and a net margin of 29.15%. The firm had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. During the same period in the previous year, the company posted $1.04 EPS. Ardmore Shipping’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts anticipate that Ardmore Shipping will post 3.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardmore Shipping

A number of institutional investors have recently made changes to their positions in ASC. Bleakley Financial Group LLC lifted its holdings in Ardmore Shipping by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 15,476 shares of the shipping company’s stock worth $218,000 after acquiring an additional 678 shares during the last quarter. Simplicity Solutions LLC lifted its holdings in shares of Ardmore Shipping by 4.6% in the 4th quarter. Simplicity Solutions LLC now owns 15,476 shares of the shipping company’s stock worth $218,000 after purchasing an additional 678 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Ardmore Shipping by 87.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock worth $62,000 after buying an additional 2,042 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Ardmore Shipping by 15.5% during the third quarter. New York State Common Retirement Fund now owns 19,177 shares of the shipping company’s stock worth $249,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its position in Ardmore Shipping by 10.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 31,330 shares of the shipping company’s stock worth $441,000 after purchasing an additional 2,886 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors.

About Ardmore Shipping

(Get Free Report)

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.

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