Stifel Nicolaus downgraded shares of Ardmore Shipping (NYSE:ASC - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $17.00 target price on the shipping company's stock, down from their prior target price of $24.00.
Other equities research analysts have also issued reports about the stock. Jefferies Financial Group upped their price target on shares of Ardmore Shipping from $21.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a report on Wednesday, September 25th. Evercore ISI upped their price target on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Finally, Fearnley Fonds raised shares of Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.33.
Get Our Latest Stock Report on Ardmore Shipping
Ardmore Shipping Stock Performance
Shares of NYSE ASC traded down $1.12 during mid-day trading on Wednesday, hitting $15.10. The stock had a trading volume of 1,048,722 shares, compared to its average volume of 623,078. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 3.50. The company has a 50 day moving average of $17.87 and a two-hundred day moving average of $19.39. Ardmore Shipping has a twelve month low of $12.69 and a twelve month high of $23.44. The firm has a market cap of $613.47 million, a PE ratio of 5.79 and a beta of 0.35.
Ardmore Shipping (NYSE:ASC - Get Free Report) last released its earnings results on Wednesday, July 31st. The shipping company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Ardmore Shipping had a return on equity of 24.26% and a net margin of 36.31%. The firm had revenue of $121.30 million for the quarter, compared to the consensus estimate of $80.51 million. During the same period in the prior year, the firm earned $0.57 EPS. The firm's revenue was up 32.0% on a year-over-year basis. Research analysts predict that Ardmore Shipping will post 3.46 EPS for the current fiscal year.
Ardmore Shipping Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date was Friday, August 30th. Ardmore Shipping's dividend payout ratio (DPR) is 58.24%.
Institutional Trading of Ardmore Shipping
Several institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. purchased a new stake in shares of Ardmore Shipping during the 3rd quarter valued at approximately $139,000. nVerses Capital LLC increased its holdings in Ardmore Shipping by 166.7% in the 3rd quarter. nVerses Capital LLC now owns 5,600 shares of the shipping company's stock valued at $101,000 after purchasing an additional 3,500 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in Ardmore Shipping by 15.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 78,902 shares of the shipping company's stock valued at $1,428,000 after purchasing an additional 10,712 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Ardmore Shipping by 9.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 52,230 shares of the shipping company's stock valued at $945,000 after purchasing an additional 4,346 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Ardmore Shipping by 15.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,474 shares of the shipping company's stock valued at $316,000 after purchasing an additional 2,310 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company's stock.
About Ardmore Shipping
(
Get Free Report)
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.
Featured Articles
Before you consider Ardmore Shipping, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardmore Shipping wasn't on the list.
While Ardmore Shipping currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
