Ardmore Shipping Corp (NYSE:ASC) Receives Average Recommendation of “Hold” from Analysts

Ardmore Shipping Corp (NYSE:ASC) has been assigned an average rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.88.

A number of analysts have recently issued reports on ASC shares. Fearnley Fonds downgraded shares of Ardmore Shipping from a “hold” rating to a “sell” rating and set a $4.40 price target on the stock. in a report on Tuesday, June 2nd. Zacks Investment Research raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Wednesday, May 6th. ValuEngine downgraded shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a report on Monday, June 1st. Finally, Pareto Securities cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, May 5th.

Shares of NYSE ASC traded down $0.17 during trading on Wednesday, reaching $4.34. 296,800 shares of the company traded hands, compared to its average volume of 432,009. The firm has a 50 day simple moving average of $5.10 and a 200-day simple moving average of $6.03. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $149.85 million, a PE ratio of -20.67 and a beta of 1.26. Ardmore Shipping has a 52-week low of $3.73 and a 52-week high of $9.79.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $41.53 million for the quarter, compared to the consensus estimate of $39.58 million. Ardmore Shipping had a negative net margin of 3.09% and a negative return on equity of 0.02%. As a group, research analysts predict that Ardmore Shipping will post 1.38 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in Ardmore Shipping by 39.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,321 shares of the shipping company’s stock worth $54,000 after acquiring an additional 2,924 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ardmore Shipping during the first quarter valued at approximately $66,000. Meeder Asset Management Inc. raised its position in shares of Ardmore Shipping by 600.5% during the first quarter. Meeder Asset Management Inc. now owns 13,974 shares of the shipping company’s stock valued at $74,000 after buying an additional 11,979 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Ardmore Shipping during the first quarter valued at approximately $75,000. Finally, KBC Group NV bought a new stake in shares of Ardmore Shipping during the first quarter valued at approximately $76,000. Institutional investors own 85.14% 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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