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) 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.
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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.
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