Ardmore Shipping (NYSE:ASC) PT Raised to $22.00 at Stifel Nicolaus

Ardmore Shipping (NYSE:ASC) had its price target upped by research analysts at Stifel Nicolaus from $21.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price target points to a potential upside of 39.95% from the stock’s current price.

ASC has been the subject of a number of other reports. StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Ardmore Shipping in a research report on Thursday, February 15th.

Ardmore Shipping Stock Performance

NYSE ASC traded up $0.13 on Friday, hitting $15.72. 260,220 shares of the stock were exchanged, compared to its average volume of 644,174. The company has a market capitalization of $638.70 million, a PE ratio of 5.77 and a beta of 0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.75 and a quick ratio of 3.38. The business’s fifty day moving average is $16.20 and its 200 day moving average is $14.86. Ardmore Shipping has a 52 week low of $11.59 and a 52 week high of $17.05.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Thursday, February 15th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $64.26 million. During the same period in the prior year, the firm posted $1.33 EPS. The company’s revenue for the quarter was down 25.6% on a year-over-year basis. Research analysts anticipate that Ardmore Shipping will post 2.6 EPS for the current fiscal year.

Institutional Trading of Ardmore Shipping

Institutional investors and hedge funds have recently modified their holdings of the business. Clear Street Markets LLC acquired a new position in shares of Ardmore Shipping during the first quarter worth $36,000. Eqis Capital Management Inc. bought a new stake in Ardmore Shipping during the 1st quarter worth $46,000. Sunbelt Securities Inc. acquired a new position in Ardmore Shipping in the 1st quarter worth about $54,000. Tower Research Capital LLC TRC raised its position in Ardmore Shipping by 253.8% in the third quarter. Tower Research Capital LLC TRC now owns 4,621 shares of the shipping company’s stock valued at $60,000 after purchasing an additional 3,315 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Ardmore Shipping by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 2,042 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors.

About Ardmore Shipping

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.