Ardmore Shipping Corp (NYSE:ASC) has been given an average recommendation of “Buy” by the eleven ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.88.
Several analysts have recently weighed in on ASC shares. ABN Amro upgraded shares of Ardmore Shipping Corp from a “hold” rating to a “buy” rating and set a $11.50 price objective for the company in a research note on Monday, March 6th. Zacks Investment Research upgraded shares of Ardmore Shipping Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, December 27th.
Several institutional investors have recently modified their holdings of ASC. Eqis Capital Management Inc. bought a new position in shares of Ardmore Shipping Corp during the third quarter worth $104,000. DIAM Co. Ltd. increased its position in shares of Ardmore Shipping Corp by 4.7% in the third quarter. DIAM Co. Ltd. now owns 33,700 shares of the shipping company’s stock worth $237,000 after buying an additional 1,500 shares during the period. Advisor Group Inc. increased its position in shares of Ardmore Shipping Corp by 4,329.9% in the third quarter. Advisor Group Inc. now owns 34,553 shares of the shipping company’s stock worth $244,000 after buying an additional 33,773 shares during the period. Scoria Capital Partners LP bought a new position in shares of Ardmore Shipping Corp during the third quarter worth $352,000. Finally, KBC Group NV increased its position in shares of Ardmore Shipping Corp by 280.5% in the third quarter. KBC Group NV now owns 52,000 shares of the shipping company’s stock worth $366,000 after buying an additional 38,333 shares during the period. 70.35% of the stock is currently owned by institutional investors.
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Shares of Ardmore Shipping Corp (NYSE:ASC) traded down 6.71% during midday trading on Monday, hitting $6.95. 462,156 shares of the company’s stock traded hands. The company has a 50 day moving average price of $7.59 and a 200 day moving average price of $7.10. Ardmore Shipping Corp has a 1-year low of $5.00 and a 1-year high of $9.93. The firm has a market capitalization of $233.35 million, a price-to-earnings ratio of 56.05 and a beta of 1.52.
Ardmore Shipping Corp (NYSE:ASC) last released its quarterly earnings data on Tuesday, February 7th. The shipping company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company earned $43.20 million during the quarter, compared to analyst estimates of $32.52 million. Ardmore Shipping Corp had a net margin of 2.28% and a return on equity of 1.64%. Ardmore Shipping Corp’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Equities analysts anticipate that Ardmore Shipping Corp will post $0.03 earnings per share for the current year.
Ardmore Shipping Corp 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.
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