Ardmore Shipping (NYSE:ASC) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Ardmore Shipping (NYSE:ASC – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the shipping company’s stock.

Several other research analysts also recently commented on ASC. TheStreet upgraded shares of Ardmore Shipping from a c rating to a b- rating in a report on Wednesday, November 23rd. Jefferies Financial Group boosted their price objective on Ardmore Shipping from $17.00 to $20.00 and gave the stock a buy rating in a research report on Wednesday, February 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $13.17.

Ardmore Shipping Stock Performance

ASC opened at $14.62 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.68 and a current ratio of 2.98. The company has a market cap of $584.51 million, a PE ratio of 4.33 and a beta of 0.55. The stock has a 50-day moving average of $15.99 and a 200-day moving average of $13.70. Ardmore Shipping has a 52-week low of $4.21 and a 52-week high of $19.41.

Ardmore Shipping (NYSE:ASC – Get Rating) last announced its earnings results on Tuesday, February 14th. The shipping company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. Ardmore Shipping had a return on equity of 38.49% and a net margin of 31.06%. The firm had revenue of $93.33 million during the quarter, compared to analysts’ expectations of $83.94 million. As a group, equities research analysts forecast that Ardmore Shipping will post 2.48 earnings per share for the current fiscal year.

Ardmore Shipping Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.45 per share. The ex-dividend date was Monday, February 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.31%. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.05. Ardmore Shipping’s dividend payout ratio is currently 53.25%.

Institutional Investors Weigh In On Ardmore Shipping

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Ardmore Shipping by 43.4% in the 3rd quarter. BlackRock Inc. now owns 2,848,449 shares of the shipping company’s stock valued at $26,006,000 after acquiring an additional 862,349 shares in the last quarter. Aristotle Capital Boston LLC raised its stake in shares of Ardmore Shipping by 2.8% in the second quarter. Aristotle Capital Boston LLC now owns 2,547,701 shares of the shipping company’s stock valued at $17,757,000 after purchasing an additional 69,510 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ardmore Shipping by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,291,314 shares of the shipping company’s stock worth $33,019,000 after purchasing an additional 113,069 shares during the period. Morgan Stanley boosted its stake in Ardmore Shipping by 35.2% during the fourth quarter. Morgan Stanley now owns 913,151 shares of the shipping company’s stock worth $13,159,000 after buying an additional 237,920 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Ardmore Shipping by 519.5% in the 2nd quarter. Millennium Management LLC now owns 853,129 shares of the shipping company’s stock valued at $5,946,000 after buying an additional 715,406 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

Ardmore Shipping Company Profile

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Ardmore Shipping Corp. engages in the provision of seaborne transportation of petroleum products and chemicals worldwide. It also owns and operates a fleet of tankers. The company was founded by Anthony Gurnee on April 15, 2010 and is headquartered in Pembroke, Bermuda.