Stifel Nicolaus Increases Ardmore Shipping (NYSE:ASC) Price Target to $22.00

Ardmore Shipping (NYSE:ASC) had its price objective lifted by analysts at Stifel Nicolaus from $21.00 to $22.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 39.95% from the company’s previous close.

ASC has been the topic of a number of other research reports. StockNews.com downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Ardmore Shipping in a research report on Thursday, February 15th.

Ardmore Shipping Trading Up 0.8 %

ASC traded up $0.13 during trading on Friday, hitting $15.72. The company’s stock had a trading volume of 260,220 shares, compared to its average volume of 644,174. Ardmore Shipping has a twelve month low of $11.59 and a twelve month high of $17.05. The stock has a market cap of $638.70 million, a PE ratio of 5.77 and a beta of 0.38. The firm’s 50 day moving average price is $16.20 and its 200-day moving average price is $14.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.75 and a quick ratio of 3.38.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $64.26 million. During the same period last year, the company earned $1.33 EPS. The firm’s quarterly revenue was down 25.6% on a year-over-year basis. On average, analysts expect that Ardmore Shipping will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Ardmore Shipping

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in shares of Ardmore Shipping by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 25,276 shares of the shipping company’s stock valued at $356,000 after buying an additional 655 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Ardmore Shipping by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 15,476 shares of the shipping company’s stock valued at $218,000 after purchasing an additional 678 shares during the period. Simplicity Solutions LLC raised its stake in shares of Ardmore Shipping by 4.6% during the fourth quarter. Simplicity Solutions LLC now owns 15,476 shares of the shipping company’s stock valued at $218,000 after purchasing an additional 678 shares during the period. Mariner LLC lifted its position in shares of Ardmore Shipping by 4.8% during the third quarter. Mariner LLC now owns 16,712 shares of the shipping company’s stock worth $217,000 after purchasing an additional 772 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Ardmore Shipping by 21.7% in the fourth quarter. Amalgamated Bank now owns 5,375 shares of the shipping company’s stock valued at $77,000 after purchasing an additional 960 shares during the period. Institutional investors and hedge funds own 62.22% of the company’s stock.

About Ardmore Shipping

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.