Ardmore Shipping (NYSE:ASC) Lowered to Sell at ValuEngine
Several other equities research analysts have also recently issued reports on the company. Fearnley Fonds cut Ardmore Shipping from a buy rating to a hold rating in a report on Tuesday, November 5th. TheStreet upgraded Ardmore Shipping from a d+ rating to a c- rating in a research report on Wednesday, December 11th. Zacks Investment Research raised Ardmore Shipping from a hold rating to a buy rating and set a $8.00 price target for the company in a research note on Friday, January 24th. Finally, Stifel Nicolaus upgraded Ardmore Shipping from a hold rating to a buy rating and set a $9.50 price target for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $8.50.
ASC traded up $0.62 during trading on Thursday, hitting $6.73. 1,365,858 shares of the company traded hands, compared to its average volume of 369,756. The company has a market cap of $175.75 million, a PE ratio of -5.34 and a beta of 1.35. The stock’s 50-day simple moving average is $7.32 and its two-hundred day simple moving average is $7.48. Ardmore Shipping has a 1 year low of $5.04 and a 1 year high of $9.79. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.20.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, February 20th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PEAK6 Investments LLC purchased a new stake in Ardmore Shipping during the fourth quarter valued at $98,000. Stifel Financial Corp bought a new position in Ardmore Shipping during the third quarter valued at $74,000. Citigroup Inc. lifted its position in Ardmore Shipping by 32.5% during the fourth quarter. Citigroup Inc. now owns 12,590 shares of the shipping company’s stock valued at $114,000 after purchasing an additional 3,086 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ardmore Shipping in the 4th quarter worth $118,000. Finally, Jefferies Group LLC grew its stake in shares of Ardmore Shipping by 29.3% in the 4th quarter. Jefferies Group LLC now owns 13,376 shares of the shipping company’s stock worth $121,000 after buying an additional 3,035 shares in the last quarter. Institutional investors own 85.48% of the company’s stock.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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