Ardmore Shipping Corp. (NYSE:ASC) has been given an average rating of “Hold” by the eleven ratings firms that are covering the company. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$10.67.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Ardmore Shipping Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Clarkson Capital downgraded shares of Ardmore Shipping Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a research report on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating on shares of Ardmore Shipping Corp. in a research report on Monday, September 12th. Finally, Morgan Stanley downgraded shares of Ardmore Shipping Corp. from an “overweight” rating to an “equal weight” rating and set a $8.00 target price for the company. in a research report on Thursday, August 25th.

Ardmore Shipping Corp. (NYSE:ASC) opened at 6.60 on Wednesday. Ardmore Shipping Corp. has a 12 month low of $5.00 and a 12 month high of $13.05. The firm has a market cap of $221.60 million, a price-to-earnings ratio of 14.57 and a beta of 1.40. The stock’s 50 day moving average is $6.56 and its 200-day moving average is $7.59.

Ardmore Shipping Corp. (NYSE:ASC) last released its earnings results on Wednesday, November 2nd. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business earned $38 million during the quarter, compared to the consensus estimate of $30.32 million. Ardmore Shipping Corp. had a net margin of 7.85% and a return on equity of 4.09%. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, analysts anticipate that Ardmore Shipping Corp. will post $0.43 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. A.R.T. Advisors LLC bought a new stake in Ardmore Shipping Corp. during the first quarter worth about $645,000. Aristotle Capital Boston LLC boosted its stake in Ardmore Shipping Corp. by 10.0% in the first quarter. Aristotle Capital Boston LLC now owns 543,244 shares of the company’s stock worth $4,590,000 after buying an additional 49,516 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Ardmore Shipping Corp. by 8.9% in the first quarter. Clear Harbor Asset Management LLC now owns 40,193 shares of the company’s stock worth $340,000 after buying an additional 3,268 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in Ardmore Shipping Corp. by 22.2% in the second quarter. Eagle Boston Investment Management Inc. now owns 854,740 shares of the company’s stock worth $5,786,000 after buying an additional 155,288 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Ardmore Shipping Corp. by 9.9% in the second quarter. American Century Companies Inc. now owns 1,165,916 shares of the company’s stock worth $7,893,000 after buying an additional 105,030 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

About Ardmore Shipping Corp.

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

5 Day Chart for NYSE:ASC

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