Ardmore Shipping’s (ASC) “Buy” Rating Reiterated at Jefferies Financial Group

by · The Markets Daily

Ardmore Shipping (NYSE:ASC – Get Free Report)‘s stock had its “buy” rating reiterated by Jefferies Financial Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 20.39% from the company’s current price.

ASC has been the subject of several other reports. Zacks Research cut shares of Ardmore Shipping from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Evercore ISI upped their price objective on shares of Ardmore Shipping from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ardmore Shipping in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

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Ardmore Shipping Stock Performance

Shares of Ardmore Shipping stock traded up $0.18 during trading on Wednesday, reaching $12.46. The company’s stock had a trading volume of 507,066 shares, compared to its average volume of 610,857. Ardmore Shipping has a one year low of $8.32 and a one year high of $13.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.56 and a current ratio of 3.88. The firm has a market cap of $506.13 million, a price-to-earnings ratio of 12.10 and a beta of 0.01. The business’s fifty day moving average price is $12.07 and its 200-day moving average price is $10.81.

Ardmore Shipping (NYSE:ASC – Get Free Report) last released its earnings results on Wednesday, November 5th. The shipping company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $81.25 million for the quarter, compared to analyst estimates of $48.38 million. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%.The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, equities research analysts predict that Ardmore Shipping will post 1.06 earnings per share for the current year.

Institutional Trading of Ardmore Shipping

Large investors have recently bought and sold shares of the stock. Savant Capital LLC acquired a new position in Ardmore Shipping during the third quarter worth $179,000. Jackson Creek Investment Advisors LLC bought a new stake in Ardmore Shipping during the third quarter worth about $475,000. State of Wyoming grew its stake in Ardmore Shipping by 94.8% during the third quarter. State of Wyoming now owns 34,450 shares of the shipping company’s stock worth $409,000 after buying an additional 16,769 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ardmore Shipping by 42.2% during the third quarter. Principal Financial Group Inc. now owns 53,980 shares of the shipping company’s stock worth $641,000 after buying an additional 16,014 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Ardmore Shipping by 654.3% in the third quarter. New York State Common Retirement Fund now owns 10,952 shares of the shipping company’s stock valued at $130,000 after acquiring an additional 9,500 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors.

About Ardmore Shipping

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Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.

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