Brokerages Set Ardmore Shipping Corporation (NYSE:ASC) Target Price at $13.67

Ardmore Shipping Corporation (NYSE:ASCGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $15.00.

ASC has been the subject of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 target price on shares of Ardmore Shipping in a research note on Wednesday, November 5th. Evercore lifted their price objective on shares of Ardmore Shipping from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ardmore Shipping in a research report on Wednesday, December 24th.

Check Out Our Latest Report on ASC

Trending Headlines about Ardmore Shipping

Here are the key news stories impacting Ardmore Shipping this week:

Ardmore Shipping Stock Up 3.4%

Shares of ASC opened at $13.55 on Friday. The company has a market capitalization of $550.20 million, a price-to-earnings ratio of 15.22 and a beta of -0.09. Ardmore Shipping has a 52 week low of $8.32 and a 52 week high of $13.84. The stock’s 50-day moving average price is $11.73 and its 200-day moving average price is $11.88. The company has a quick ratio of 3.98, a current ratio of 4.33 and a debt-to-equity ratio of 0.20.

Ardmore Shipping (NYSE:ASCGet Free Report) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.The company had revenue of $82.91 million during the quarter, compared to the consensus estimate of $51.00 million. On average, sell-side analysts predict that Ardmore Shipping will post 1.06 EPS for the current year.

Ardmore Shipping Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.36 dividend on an annualized basis and a yield of 2.7%. Ardmore Shipping’s dividend payout ratio is presently 44.94%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT purchased a new stake in Ardmore Shipping in the 4th quarter worth $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth about $33,000. Raymond James Financial Inc. acquired a new position in shares of Ardmore Shipping during the 2nd quarter worth about $38,000. Ameriflex Group Inc. purchased a new position in Ardmore Shipping in the 3rd quarter valued at about $59,000. Finally, CWM LLC boosted its holdings in Ardmore Shipping by 320.8% in the 2nd quarter. CWM LLC now owns 7,735 shares of the shipping company’s stock worth $74,000 after buying an additional 5,897 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.

About Ardmore Shipping

(Get Free Report)

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.

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Analyst Recommendations for Ardmore Shipping (NYSE:ASC)

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