Several other research firms have also commented on ASC. Deutsche Bank AG reiterated a buy rating and set a $11.00 price objective on shares of Ardmore Shipping Corp. in a research note on Wednesday, June 15th. Jefferies Group restated a buy rating on shares of Ardmore Shipping Corp. in a research report on Monday, August 22nd. Morgan Stanley lowered Ardmore Shipping Corp. from an overweight rating to an equal weight rating and set a $8.00 price target for the company. in a research report on Thursday, August 25th. ABN Amro upgraded Ardmore Shipping Corp. from a sell rating to a hold rating in a research report on Thursday, June 30th. Finally, Zacks Investment Research lowered Ardmore Shipping Corp. from a hold rating to a sell rating in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of C$12.63.
Ardmore Shipping Corp. (NYSE:ASC) opened at 7.03 on Monday. Ardmore Shipping Corp. has a 1-year low of $6.46 and a 1-year high of $15.03. The firm’s 50-day moving average is $7.29 and its 200-day moving average is $8.04. The firm has a market capitalization of $235.43 million, a price-to-earnings ratio of 5.95 and a beta of 1.30.
Ardmore Shipping Corp. (NYSE:ASC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Ardmore Shipping Corp. had a return on equity of 8.47% and a net margin of 18.12%. The company earned $39.70 million during the quarter, compared to analyst estimates of $32.49 million. Ardmore Shipping Corp.’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Ardmore Shipping Corp. will post $0.76 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its position in Ardmore Shipping Corp. by 33.1% in the first quarter. Royce & Associates LP now owns 1,782,503 shares of the company’s stock worth $15,062,000 after buying an additional 443,000 shares during the period. Geode Capital Management LLC boosted its position in Ardmore Shipping Corp. by 11.1% in the first quarter. Geode Capital Management LLC now owns 143,033 shares of the company’s stock worth $1,208,000 after buying an additional 14,266 shares during the period. A.R.T. Advisors LLC purchased a new position in Ardmore Shipping Corp. during the first quarter worth approximately $645,000. Aristotle Capital Boston LLC boosted its position in Ardmore Shipping Corp. by 10.0% in the first quarter. Aristotle Capital Boston LLC now owns 543,244 shares of the company’s stock worth $4,590,000 after buying an additional 49,516 shares during the period. Finally, Royal Bank of Canada boosted its position in Ardmore Shipping Corp. by 10.0% in the first quarter. Royal Bank of Canada now owns 53,032 shares of the company’s stock worth $448,000 after buying an additional 4,800 shares during the period. Hedge funds and other institutional investors own 63.20% of the company’s stock.
About Ardmore Shipping Corp.
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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