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

Ardmore Shipping (NYSE:ASC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Ardmore Shipping in a research report on Thursday, February 15th. Stifel Nicolaus raised their price target on shares of Ardmore Shipping from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 19th.

Ardmore Shipping Price Performance

ASC stock opened at $16.75 on Monday. Ardmore Shipping has a 1 year low of $11.59 and a 1 year high of $17.17. The stock has a market capitalization of $680.55 million, a PE ratio of 6.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.75 and a quick ratio of 3.38. The company’s 50-day moving average is $16.23 and its 200-day moving average is $15.10.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The business had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $64.26 million. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was down 25.6% compared to the same quarter last year. Equities research analysts expect that Ardmore Shipping will post 2.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardmore Shipping

Hedge funds have recently modified their holdings of the company. Capricorn Fund Managers Ltd bought a new position in shares of Ardmore Shipping during the 4th quarter worth approximately $423,000. Qube Research & Technologies Ltd lifted its position 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 buying an additional 55,813 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Ardmore Shipping by 9.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 35,214 shares of the shipping company’s stock worth $496,000 after purchasing an additional 3,108 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Ardmore Shipping by 147.0% during the 3rd quarter. Alps Advisors Inc. now owns 45,205 shares of the shipping company’s stock worth $576,000 after purchasing an additional 26,900 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Ardmore Shipping during the 3rd quarter worth approximately $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.