Equities research analysts at Jefferies Group initiated coverage on shares of Ardmore Shipping (NYSE:ASC) in a research report issued to clients and investors on Monday, December 18th. The brokerage set a “buy” rating and a $11.00 price target on the shipping company’s stock. Jefferies Group’s price target suggests a potential upside of 36.65% from the stock’s current price. Jefferies Group also issued estimates for Ardmore Shipping’s Q4 2017 earnings at $0.07 EPS, FY2017 earnings at ($0.19) EPS and FY2018 earnings at $0.97 EPS.
Other research analysts have also issued research reports about the company. Stifel Nicolaus set a $10.00 price target on Ardmore Shipping and gave the stock a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research raised 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 Tuesday, October 3rd. Morgan Stanley lifted their price target on Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. ValuEngine raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, BidaskClub raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Ardmore Shipping has a consensus rating of “Hold” and an average target price of $10.50.
Shares of Ardmore Shipping (NYSE ASC) traded up $0.20 during midday trading on Monday, hitting $8.05. The stock had a trading volume of 175,958 shares, compared to its average volume of 186,755. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. Ardmore Shipping has a 1-year low of $6.60 and a 1-year high of $9.05. The firm has a market cap of $266.93, a price-to-earnings ratio of -21.76, a PEG ratio of 1.49 and a beta of 1.31.
Ardmore Shipping (NYSE:ASC) last issued its earnings results on Wednesday, November 1st. The shipping company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $48.70 million for the quarter, compared to analyst estimates of $29.99 million. Ardmore Shipping had a negative return on equity of 3.08% and a negative net margin of 6.45%. The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. sell-side analysts forecast that Ardmore Shipping will post -0.35 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP purchased a new position in shares of Ardmore Shipping in the 1st quarter valued at approximately $2,064,000. American Century Companies Inc. grew its stake in shares of Ardmore Shipping by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 1,463,249 shares of the shipping company’s stock valued at $11,925,000 after purchasing an additional 40,871 shares during the last quarter. Royce & Associates LP grew its stake in shares of Ardmore Shipping by 9.4% in the 2nd quarter. Royce & Associates LP now owns 1,713,575 shares of the shipping company’s stock valued at $13,966,000 after purchasing an additional 147,900 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ardmore Shipping by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 222,153 shares of the shipping company’s stock valued at $1,788,000 after purchasing an additional 2,530 shares during the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Ardmore Shipping by 127.9% in the 2nd quarter. Private Management Group Inc. now owns 220,437 shares of the shipping company’s stock valued at $1,797,000 after purchasing an additional 123,730 shares during the last quarter. Institutional investors own 75.63% of the company’s stock.
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About Ardmore Shipping
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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