Ardmore Shipping (NYSE:ASC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.
ASC has been the topic of several other reports. Stifel Nicolaus set a $9.00 price objective on shares of Ardmore Shipping and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase lifted their price objective on shares of Ardmore Shipping from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.42.
Ardmore Shipping stock opened at $7.95 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $268.61 million, a price-to-earnings ratio of -21.49 and a beta of 0.94. Ardmore Shipping has a 1 year low of $6.40 and a 1 year high of $9.05.
Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings results on Wednesday, May 2nd. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). Ardmore Shipping had a negative return on equity of 3.98% and a negative net margin of 7.88%. The business had revenue of $50.40 million during the quarter, compared to analyst estimates of $31.03 million. During the same quarter last year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. sell-side analysts predict that Ardmore Shipping will post -0.07 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. A.R.T. Advisors LLC purchased a new position in Ardmore Shipping during the 1st quarter worth approximately $117,000. Citadel Advisors LLC acquired a new stake in shares of Ardmore Shipping during the 1st quarter valued at $138,000. Two Sigma Securities LLC acquired a new stake in shares of Ardmore Shipping during the 4th quarter valued at $203,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Ardmore Shipping by 26.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 58,600 shares of the shipping company’s stock valued at $446,000 after buying an additional 12,100 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in shares of Ardmore Shipping by 13.3% during the 1st quarter. OppenheimerFunds Inc. now owns 65,868 shares of the shipping company’s stock valued at $501,000 after buying an additional 7,735 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.
About Ardmore Shipping
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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