Ardmore Shipping (NYSE:ASC) PT Raised to $21.00

Ardmore Shipping (NYSE:ASC) had its price objective hoisted by analysts at Jefferies Financial Group from $20.00 to $21.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 3.32% from the company’s current price.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus upped their price target on Ardmore Shipping from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday.

Ardmore Shipping Price Performance

Shares of ASC opened at $20.33 on Wednesday. Ardmore Shipping has a 12-month low of $11.59 and a 12-month high of $20.52. The business has a 50-day simple moving average of $16.44 and a two-hundred day simple moving average of $15.28. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15. The stock has a market cap of $825.74 million, a PE ratio of 7.45 and a beta of 0.36.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The firm had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. During the same quarter in the previous year, the company posted $1.04 EPS. The business’s revenue was down 10.1% on a year-over-year basis. Analysts anticipate that Ardmore Shipping will post 2.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardmore Shipping

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new position in Ardmore Shipping in the first quarter worth approximately $54,000. Quadrant Capital Group LLC boosted its holdings in Ardmore Shipping by 87.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock worth $62,000 after acquiring an additional 2,042 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Ardmore Shipping in the first quarter worth approximately $108,000. MJP Associates Inc. ADV bought a new position in Ardmore Shipping in the fourth quarter worth approximately $141,000. Finally, Advisor OS LLC bought a new position in Ardmore Shipping in the fourth quarter worth approximately $141,000. Institutional investors own 62.22% of the company’s stock.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.