StockNews.com Downgrades Ardmore Shipping (NYSE:ASC) to Hold

StockNews.com downgraded shares of Ardmore Shipping (NYSE:ASC) from a buy rating to a hold rating in a report released on Friday morning.

A number of other equities research analysts have also weighed in on ASC. Stifel Nicolaus lifted their price objective on shares of Ardmore Shipping from $20.00 to $21.00 and gave the company a buy rating in a report on Friday, February 16th. Jefferies Financial Group reaffirmed a buy rating and set a $20.00 price target on shares of Ardmore Shipping in a research note on Thursday, February 15th.

Ardmore Shipping Stock Performance

Shares of NYSE:ASC opened at $16.03 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15. Ardmore Shipping has a 12 month low of $11.59 and a 12 month high of $17.05. The company has a market capitalization of $651.30 million, a price-to-earnings ratio of 5.87 and a beta of 0.38. The firm’s 50-day moving average is $16.19 and its 200 day moving average is $14.94.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Thursday, February 15th. The shipping company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The company had revenue of $98.80 million for the quarter, compared to the consensus estimate of $64.26 million. Ardmore Shipping’s quarterly revenue was down 25.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 EPS. Research analysts predict that Ardmore Shipping will post 2.66 EPS for the current year.

Ardmore Shipping Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 5.24%. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.16. Ardmore Shipping’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Investors Weigh In On Ardmore Shipping

Several large investors have recently modified their holdings of the business. Capricorn Fund Managers Ltd purchased a new position in Ardmore Shipping in the fourth quarter valued at about $423,000. Qube Research & Technologies Ltd raised its stake in shares of Ardmore Shipping by 23.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 291,861 shares of the shipping company’s stock worth $3,797,000 after acquiring an additional 55,813 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Ardmore Shipping by 9.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 35,214 shares of the shipping company’s stock valued at $496,000 after acquiring an additional 3,108 shares during the last quarter. Alps Advisors Inc. boosted its stake in Ardmore Shipping by 147.0% in the third quarter. Alps Advisors Inc. now owns 45,205 shares of the shipping company’s stock valued at $576,000 after acquiring an additional 26,900 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Ardmore Shipping in the third quarter worth $183,000. 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.