Shares of Ardmore Shipping Corp (NYSE:ASC) have received a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.70.

Several analysts have recently issued reports on ASC shares. Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Tuesday, October 3rd. Stifel Nicolaus set a $10.00 price objective on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Sunday, October 29th. Seaport Global Securities set a $12.00 price objective on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Thursday, January 4th. Jefferies Group started coverage on shares of Ardmore Shipping in a research note on Monday, December 18th. They set a “buy” rating and a $11.00 price objective for the company. Finally, ValuEngine cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.

Several large investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in shares of Ardmore Shipping by 13.5% during the 3rd quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock valued at $16,051,000 after acquiring an additional 231,950 shares in the last quarter. Boston Partners lifted its holdings in Ardmore Shipping by 22.4% in the 3rd quarter. Boston Partners now owns 1,045,468 shares of the shipping company’s stock worth $8,626,000 after buying an additional 191,270 shares in the last quarter. Northern Trust Corp lifted its holdings in Ardmore Shipping by 88.7% in the 2nd quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock worth $7,492,000 after buying an additional 432,042 shares in the last quarter. Signia Capital Management LLC lifted its holdings in Ardmore Shipping by 2.3% in the 3rd quarter. Signia Capital Management LLC now owns 783,346 shares of the shipping company’s stock worth $6,462,000 after buying an additional 17,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Ardmore Shipping by 46.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 706,866 shares of the shipping company’s stock worth $5,832,000 after buying an additional 224,920 shares in the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.

Ardmore Shipping (NYSE:ASC) traded up $0.10 during mid-day trading on Tuesday, reaching $8.15. 160,700 shares of the company’s stock traded hands, compared to its average volume of 183,856. The stock has a market cap of $273.64, a PE ratio of -22.03, a P/E/G ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.41. Ardmore Shipping has a 12-month low of $6.60 and a 12-month high of $9.05.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Wednesday, November 1st. The shipping company reported ($0.14) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The firm had revenue of $48.70 million during the quarter, compared to analysts’ expectations of $29.99 million. Ardmore Shipping had a negative net margin of 6.45% and a negative return on equity of 3.08%. Ardmore Shipping’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. equities analysts anticipate that Ardmore Shipping will post -0.36 earnings per share for the current year.

WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/16/ardmore-shipping-corp-asc-receives-consensus-rating-of-hold-from-brokerages.html.

About Ardmore Shipping

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

Analyst Recommendations for Ardmore Shipping (NYSE:ASC)

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.