Ardmore Shipping Co. (NYSE:ASC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ardmore Shipping Co. (NYSE:ASC – Get Rating) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.70.

Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Ardmore Shipping in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Ardmore Shipping in a research note on Wednesday, April 27th. They set a “buy” rating and a $7.50 price target on the stock. Clarkson Capital restated a “buy” rating on shares of Ardmore Shipping in a research note on Tuesday, June 14th. HC Wainwright boosted their price target on Ardmore Shipping from $5.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Finally, TheStreet upgraded Ardmore Shipping from a “d+” rating to a “c-” rating in a research note on Wednesday, April 27th.

ASC opened at $7.36 on Thursday. The business’s 50-day moving average is $6.95 and its two-hundred day moving average is $4.99. Ardmore Shipping has a 1 year low of $3.07 and a 1 year high of $8.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.86 and a quick ratio of 1.66. The firm has a market capitalization of $254.46 million, a PE ratio of -6.75 and a beta of 0.29.

Ardmore Shipping (NYSE:ASC – Get Rating) last posted its earnings results on Wednesday, May 4th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. Ardmore Shipping had a negative return on equity of 9.46% and a negative net margin of 16.80%. The company had revenue of $36.29 million for the quarter, compared to analyst estimates of $33.61 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts expect that Ardmore Shipping will post 0.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Ardmore Shipping in the first quarter valued at approximately $68,000. Eqis Capital Management Inc. purchased a new stake in Ardmore Shipping in the first quarter valued at approximately $46,000. Renaissance Technologies LLC boosted its position in Ardmore Shipping by 48.6% in the first quarter. Renaissance Technologies LLC now owns 27,500 shares of the shipping company’s stock valued at $124,000 after buying an additional 9,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ardmore Shipping by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,739,447 shares of the shipping company’s stock valued at $7,828,000 after buying an additional 26,216 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Ardmore Shipping by 1.5% in the first quarter. BlackRock Inc. now owns 398,318 shares of the shipping company’s stock valued at $1,792,000 after buying an additional 5,789 shares during the last quarter. Hedge funds and other institutional investors own 66.52% of the company’s stock.

About Ardmore Shipping (Get Rating)

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.

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