Ardmore Shipping (ASC) Downgraded by ValuEngine to “Sell”

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.

Analyst Recommendations for Ardmore Shipping (NYSE:ASC)

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