Ardmore Shipping Corporation (NYSE:ASC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other equities research analysts have also recently issued reports on the company. BidaskClub cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Tuesday, July 4th. Finally, TheStreet cut Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.88.

Shares of Ardmore Shipping Corporation (NYSE:ASC) traded down 1.99% during trading on Tuesday, reaching $7.40. The company’s stock had a trading volume of 98,365 shares. The stock’s market capitalization is $248.46 million. The firm’s 50-day moving average is $7.98 and its 200-day moving average is $7.59. Ardmore Shipping Corporation has a 12-month low of $5.00 and a 12-month high of $8.75.

Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The business had revenue of $49.85 million for the quarter, compared to analysts’ expectations of $31.73 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue was up 25.5% on a year-over-year basis. Equities analysts expect that Ardmore Shipping Corporation will post ($0.12) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/08/valuengine-lowers-ardmore-shipping-corporation-asc-to-sell.html.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC raised its position in Ardmore Shipping Corporation by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 61,240 shares of the shipping company’s stock valued at $453,000 after buying an additional 20,802 shares during the period. Nationwide Fund Advisors raised its position in Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock valued at $164,000 after buying an additional 2,792 shares during the period. Acadian Asset Management LLC bought a new position in Ardmore Shipping Corporation during the first quarter valued at approximately $103,000. Russell Investments Group Ltd. raised its position in Ardmore Shipping Corporation by 15.6% in the first quarter. Russell Investments Group Ltd. now owns 284,780 shares of the shipping company’s stock valued at $2,292,000 after buying an additional 38,455 shares during the period. Finally, WealthTrust Axiom LLC raised its position in Ardmore Shipping Corporation by 18.5% in the first quarter. WealthTrust Axiom LLC now owns 70,500 shares of the shipping company’s stock valued at $567,000 after buying an additional 11,000 shares during the period. Hedge funds and other institutional investors own 76.54% of the company’s stock.

Ardmore Shipping Corporation 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 Corporation (NYSE:ASC)

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