Ardmore Shipping Corp (ASC) Receives Consensus Recommendation of “Hold” from Analysts

Ardmore Shipping Corp (NYSE:ASC) has received an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $10.50.

ASC has been the subject of a number of recent research reports. Stifel Nicolaus set a $9.00 price objective on Ardmore Shipping and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Seaport Global Securities set a $12.00 target price on Ardmore Shipping and gave the stock a “buy” rating in a research note on Thursday, January 4th. Jefferies Group began coverage on Ardmore Shipping in a research note on Monday, December 18th. They set a “buy” rating and a $11.00 target price for the company. Morgan Stanley increased their target price on Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th.

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Ardmore Shipping by 283.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 98,771 shares of the shipping company’s stock worth $815,000 after buying an additional 72,979 shares in the last quarter. Royce & Associates LP increased its stake in Ardmore Shipping by 13.5% in the 3rd quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock valued at $16,051,000 after purchasing an additional 231,950 shares in the last quarter. Northern Trust Corp increased its stake in Ardmore Shipping by 88.7% in the 2nd quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock valued at $7,492,000 after purchasing an additional 432,042 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Ardmore Shipping in the 3rd quarter valued at approximately $4,592,000. Finally, Ingalls & Snyder LLC increased its stake in Ardmore Shipping by 44.7% in the 3rd quarter. Ingalls & Snyder LLC now owns 397,080 shares of the shipping company’s stock valued at $3,276,000 after purchasing an additional 122,630 shares in the last quarter. 75.51% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping (NYSE:ASC) traded up $0.35 during trading on Friday, reaching $7.10. The company’s stock had a trading volume of 608,529 shares, compared to its average volume of 281,155. Ardmore Shipping has a 52 week low of $6.40 and a 52 week high of $9.05. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 1.07. The firm has a market cap of $226.63, a PE ratio of -18.68, a price-to-earnings-growth ratio of 4.03 and a beta of 1.12.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, February 7th. The shipping company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. Ardmore Shipping had a negative return on equity of 3.16% and a negative net margin of 6.37%. The company had revenue of $30.23 million during the quarter, compared to analysts’ expectations of $30.24 million. During the same period last year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. equities analysts predict that Ardmore Shipping will post 0.17 EPS for the current year.

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Ardmore Shipping Company Profile

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)

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