Ardmore Shipping (NYSE:ASC) Rating Lowered to Sell at ValuEngine

Ardmore Shipping (NYSE:ASC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday, ValuEngine reports.

Several other equities analysts have also recently issued reports on the stock. Fearnley Fonds cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. TheStreet upgraded shares of Ardmore Shipping from a “d+” rating to a “c-” rating in a research report on Wednesday, December 11th. Zacks Investment Research upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Friday, January 24th. Finally, Stifel Nicolaus upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Ardmore Shipping presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Shares of NYSE ASC opened at $6.73 on Thursday. 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 1.62, a quick ratio of 1.34 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average is $7.27 and its 200 day moving average is $7.48.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Tuesday, February 11th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). Ardmore Shipping had a negative net margin of 9.94% and a negative return on equity of 2.78%. The company had revenue of $38.08 million for the quarter, compared to analysts’ expectations of $38.91 million. On average, research analysts anticipate that Ardmore Shipping will post 0.76 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of ASC. Stifel Financial Corp bought a new stake in Ardmore Shipping during the third quarter worth about $74,000. PEAK6 Investments LLC bought a new stake in Ardmore Shipping during the fourth quarter worth about $98,000. Citigroup Inc. boosted its stake in Ardmore Shipping by 32.5% during the fourth quarter. Citigroup Inc. now owns 12,590 shares of the shipping company’s stock worth $114,000 after acquiring an additional 3,086 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ardmore Shipping during the fourth quarter worth about $118,000. Finally, Jefferies Group LLC boosted its stake in Ardmore Shipping by 29.3% during the fourth quarter. Jefferies Group LLC now owns 13,376 shares of the shipping company’s stock worth $121,000 after acquiring an additional 3,035 shares in the last quarter. 85.48% of the stock is currently owned by institutional investors and hedge funds.

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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