Seaport Global Securities Analysts Give Ardmore Shipping (ASC) a $12.00 Price Target
Ardmore Shipping (NYSE:ASC) has been assigned a $12.00 price objective by research analysts at Seaport Global Securities in a note issued to investors on Thursday. The firm presently has a “buy” rating on the shipping company’s stock. Seaport Global Securities’ target price would suggest a potential upside of 47.24% from the stock’s current price.
ASC has been the topic of several other research reports. Jefferies Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Ardmore Shipping in a research report on Monday, October 16th. Zacks Investment Research raised Ardmore Shipping from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, October 3rd. Stifel Nicolaus set a $10.00 target price on Ardmore Shipping and gave the company a “buy” rating in a research report on Sunday, October 29th. ValuEngine cut Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Finally, Morgan Stanley increased their target price on Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $10.50.
Ardmore Shipping (ASC) opened at $8.15 on Thursday. The company has a market capitalization of $277.00, a price-to-earnings ratio of -22.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. Ardmore Shipping has a fifty-two week low of $6.60 and a fifty-two week high of $9.05. The company has a current ratio of 1.57, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03.
Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Wednesday, November 1st. The shipping company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $29.99 million. Ardmore Shipping had a negative return on equity of 3.08% and a negative net margin of 6.45%. Ardmore Shipping’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. equities analysts predict that Ardmore Shipping will post -0.35 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of ASC. Bank of New York Mellon Corp boosted its position in shares of Ardmore Shipping by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,695 shares of the shipping company’s stock worth $975,000 after purchasing an additional 762 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Ardmore Shipping in the 2nd quarter worth $155,000. TIAA CREF Investment Management LLC boosted its position in shares of Ardmore Shipping by 12.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 75,564 shares of the shipping company’s stock worth $616,000 after purchasing an additional 8,212 shares in the last quarter. GRT Capital Partners L.L.C. acquired a new stake in shares of Ardmore Shipping in the 2nd quarter worth $303,000. Finally, Penn Capital Management Co. Inc. boosted its position in shares of Ardmore Shipping by 29.6% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 360,247 shares of the shipping company’s stock worth $2,936,000 after purchasing an additional 82,293 shares in the last quarter. 75.63% of the stock is owned by hedge funds and other institutional investors.
About Ardmore Shipping
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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