According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
ASC has been the topic of a number of other reports. Pareto Securities raised Ardmore Shipping from a hold rating to a buy rating in a research report on Friday, June 28th. Morgan Stanley boosted their target price on Zynga and gave the stock an overweight rating in a research report on Thursday, May 2nd. Finally, ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ardmore Shipping presently has an average rating of Buy and a consensus price target of $8.68.
Shares of Ardmore Shipping stock opened at $8.62 on Tuesday. The stock’s fifty day moving average is $7.25. The firm has a market capitalization of $285.32 million, a price-to-earnings ratio of -8.29 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.56 and a debt-to-equity ratio of 1.21. Ardmore Shipping has a 12-month low of $4.22 and a 12-month high of $8.77.
Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, May 1st. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $33.04 million. Ardmore Shipping had a negative return on equity of 8.92% and a negative net margin of 21.14%. Ardmore Shipping’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.16) earnings per share. As a group, equities analysts anticipate that Ardmore Shipping will post 0.06 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in ASC. Macquarie Group Ltd. purchased a new position in shares of Ardmore Shipping during the fourth quarter valued at $36,000. Covington Capital Management purchased a new position in shares of Ardmore Shipping during the fourth quarter valued at $37,000. BNP Paribas Arbitrage SA grew its holdings in shares of Ardmore Shipping by 591.6% during the first quarter. BNP Paribas Arbitrage SA now owns 6,978 shares of the shipping company’s stock valued at $43,000 after buying an additional 5,969 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Ardmore Shipping by 39.9% during the fourth quarter. Citigroup Inc. now owns 14,933 shares of the shipping company’s stock valued at $69,000 after buying an additional 4,259 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Ardmore Shipping during the second quarter valued at $95,000. 90.28% of the stock is currently owned by institutional investors.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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