ValuEngine upgraded shares of Ardmore Shipping Corporation (NYSE:ASC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of Ardmore Shipping Corporation from a strong sell rating to a sell rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Ardmore Shipping Corporation from a sell rating to a hold rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a buy rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research note on Tuesday, July 4th. Stifel Nicolaus reiterated a buy rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a research note on Friday, July 7th. Finally, TheStreet lowered shares of Ardmore Shipping Corporation from a c- rating to a d rating in a research note on Wednesday, May 24th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $10.50.

Ardmore Shipping Corporation (ASC) opened at 8.05 on Friday. Ardmore Shipping Corporation has a 52 week low of $5.00 and a 52 week high of $8.75. The firm has a 50-day moving average of $7.69 and a 200-day moving average of $7.60. The company’s market capitalization is $270.28 million.

Ardmore Shipping Corporation (NYSE:ASC) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The firm had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. During the same quarter last year, the firm posted $0.18 earnings per share. Ardmore Shipping Corporation’s revenue for the quarter was up 25.5% compared to the same quarter last year. Analysts anticipate that Ardmore Shipping Corporation will post ($0.16) EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its stake in Ardmore Shipping Corporation by 0.3% in the first quarter. Parametric Portfolio Associates LLC now owns 170,457 shares of the shipping company’s stock worth $1,372,000 after buying an additional 481 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Ardmore Shipping Corporation by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock worth $975,000 after buying an additional 762 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ardmore Shipping Corporation by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after buying an additional 1,306 shares in the last quarter. Geode Capital Management LLC raised its stake in Ardmore Shipping Corporation by 1.2% in the first quarter. Geode Capital Management LLC now owns 222,153 shares of the shipping company’s stock worth $1,788,000 after buying an additional 2,530 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock worth $164,000 after buying an additional 2,792 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Ardmore Shipping Corporation Company Profile

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.

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Analyst Recommendations for Ardmore Shipping Corporation (NYSE:ASC)

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