Ardmore Shipping (NYSE:ASC) Earns Buy Rating from Analysts at started coverage on shares of Ardmore Shipping (NYSE:ASCGet 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, 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:ASCGet 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

(Get Rating)

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.

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