Ardmore Shipping Corporation (NYSE:ASC) Receives $15.00 Consensus PT from Analysts
by Scott Moore · The Cerbat GemShares of Ardmore Shipping Corporation (NYSE:ASC – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.00.
ASC has been the subject of several recent research reports. Wall Street Zen raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ardmore Shipping in a research report on Wednesday, December 24th.
Get Our Latest Analysis on Ardmore Shipping
Institutional Trading of Ardmore Shipping
A number of hedge funds have recently made changes to their positions in ASC. Zions Bancorporation National Association UT acquired a new stake in shares of Ardmore Shipping in the fourth quarter valued at approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Ardmore Shipping in the second quarter valued at approximately $38,000. Ameriflex Group Inc. acquired a new stake in shares of Ardmore Shipping in the third quarter valued at approximately $59,000. EverSource Wealth Advisors LLC lifted its position in shares of Ardmore Shipping by 1,689.0% in the second quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company’s stock valued at $81,000 after buying an additional 7,972 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Ardmore Shipping by 536.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,737 shares of the shipping company’s stock valued at $84,000 after buying an additional 7,364 shares during the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.
Ardmore Shipping Stock Performance
Shares of NYSE ASC opened at $15.46 on Wednesday. The stock has a 50 day moving average price of $14.81 and a 200 day moving average price of $12.89. Ardmore Shipping has a 52 week low of $8.61 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.98 and a current ratio of 4.33. The stock has a market capitalization of $629.50 million, a PE ratio of 17.37 and a beta of -0.14.
Ardmore Shipping (NYSE:ASC – Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.The firm had revenue of $82.91 million during the quarter, compared to analysts’ expectations of $51.00 million. Analysts predict that Ardmore Shipping will post 1.06 earnings per share for the current fiscal year.
Ardmore Shipping Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.36 annualized dividend and a yield of 2.3%. Ardmore Shipping’s dividend payout ratio is 40.45%.
About Ardmore Shipping
Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.
Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.