Ardmore Shipping (NYSE:ASC) Price Target Lowered to $11.00 at Stifel Nicolaus

Ardmore Shipping (NYSE:ASC - Get Free Report) had its price target dropped by analysts at Stifel Nicolaus from $13.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a "hold" rating on the shipping company's stock. Stifel Nicolaus' target price points to a potential upside of 4.80% from the stock's current price.

Separately, Jefferies Financial Group restated a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ardmore Shipping has an average rating of "Hold" and an average target price of $18.00.

Ardmore Shipping Stock Performance

Shares of ASC stock traded up $0.08 during trading hours on Friday, reaching $10.50. 849,436 shares of the company's stock were exchanged, compared to its average volume of 758,779. Ardmore Shipping has a 1 year low of $10.22 and a 1 year high of $23.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.57 and a quick ratio of 3.26. The company's 50 day moving average is $11.84 and its two-hundred day moving average is $14.60. The company has a market cap of $439.15 million, a P/E ratio of 2.94 and a beta of 0.25.

Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 23.63% and a net margin of 36.22%. Equities research analysts anticipate that Ardmore Shipping will post 2.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardmore Shipping

A number of institutional investors have recently added to or reduced their stakes in ASC. GAMMA Investing LLC lifted its stake in shares of Ardmore Shipping by 261.1% in the 4th quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock valued at $26,000 after purchasing an additional 1,530 shares in the last quarter. Signaturefd LLC raised its holdings in Ardmore Shipping by 63.3% in the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock valued at $29,000 after buying an additional 919 shares during the period. Private Trust Co. NA acquired a new position in Ardmore Shipping during the third quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its stake in Ardmore Shipping by 302.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after buying an additional 1,893 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Ardmore Shipping in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 62.22% of the company's stock.

Ardmore Shipping Company Profile

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.