Ardmore Shipping (NYSE:ASC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.
A number of other equities analysts also recently issued reports on the stock. Evercore set a $19.00 price target on shares of Ardmore Shipping in a research note on Tuesday, April 21st. Weiss Ratings raised Ardmore Shipping from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Ardmore Shipping presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.
Get Our Latest Analysis on Ardmore Shipping
Ardmore Shipping Stock Performance
NYSE:ASC opened at $17.35 on Friday. The stock has a market cap of $706.79 million, a P/E ratio of 6.70 and a beta of 0.04. The firm's fifty day simple moving average is $16.30 and its 200 day simple moving average is $15.59. Ardmore Shipping has a twelve month low of $10.17 and a twelve month high of $20.02. The company has a quick ratio of 4.43, a current ratio of 5.45 and a debt-to-equity ratio of 0.05.
Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.24%. The business had revenue of $116.21 million during the quarter, compared to analyst estimates of $86.30 million.
Insider Buying and Selling at Ardmore Shipping
In other news, Director Curtis B. Mcwilliams sold 16,277 shares of Ardmore Shipping stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.38, for a total transaction of $315,448.26. Following the completion of the transaction, the director directly owned 60,673 shares in the company, valued at approximately $1,175,842.74. This trade represents a 21.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Bart B. Kelleher sold 8,000 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.07, for a total value of $152,560.00. Following the completion of the sale, the president directly owned 60,039 shares in the company, valued at $1,144,943.73. This trade represents a 11.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 40,000 shares of company stock valued at $766,048.
Institutional Investors Weigh In On Ardmore Shipping
Several institutional investors have recently modified their holdings of the business. Zions Bancorporation National Association UT purchased a new stake in shares of Ardmore Shipping during the 4th quarter valued at about $25,000. Raymond James Financial Inc. bought a new stake in shares of Ardmore Shipping in the second quarter worth $38,000. EverSource Wealth Advisors LLC increased its position in Ardmore Shipping by 1,689.0% during the second quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company's stock valued at $81,000 after acquiring an additional 7,972 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Ardmore Shipping by 536.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,737 shares of the shipping company's stock valued at $84,000 after acquiring an additional 7,364 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Ardmore Shipping in the third quarter valued at about $105,000. 62.22% of the stock is owned by hedge funds and other institutional investors.
About Ardmore Shipping
(
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Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.
Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.
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