Zacks Research upgraded shares of Ardmore Shipping (NYSE:ASC - Free Report) from a hold rating to a strong-buy rating in a research report report published on Wednesday, August 20th,Zacks.com reports.
Several other equities research analysts have also recently issued reports on the company. Jefferies Financial Group reissued a "buy" rating and set a $14.00 target price on shares of Ardmore Shipping in a research note on Wednesday, July 30th. Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Evercore ISI set a $13.00 price target on Ardmore Shipping in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Ardmore Shipping has an average rating of "Buy" and a consensus price target of $12.67.
Read Our Latest Research Report on Ardmore Shipping
Ardmore Shipping Price Performance
Shares of NYSE:ASC traded up $0.17 during midday trading on Wednesday, hitting $11.61. The company had a trading volume of 99,513 shares, compared to its average volume of 645,549. Ardmore Shipping has a twelve month low of $8.32 and a twelve month high of $19.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.88 and a quick ratio of 3.56. The stock has a market cap of $471.40 million, a price-to-earnings ratio of 11.28 and a beta of 0.05. The business's 50-day simple moving average is $10.42 and its 200-day simple moving average is $9.99.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $72.05 million during the quarter, compared to analysts' expectations of $44.92 million. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%.The business's revenue for the quarter was down 40.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. On average, research analysts predict that Ardmore Shipping will post 1.06 earnings per share for the current year.
Ardmore Shipping Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $0.07 dividend. This is a boost from Ardmore Shipping's previous quarterly dividend of $0.05. This represents a $0.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 29th. Ardmore Shipping's payout ratio is 19.42%.
Institutional Trading of Ardmore Shipping
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Holdings LLC acquired a new stake in shares of Ardmore Shipping during the first quarter worth about $27,000. Lazard Asset Management LLC acquired a new position in Ardmore Shipping in the 4th quarter valued at about $36,000. MeadowBrook Investment Advisors LLC acquired a new position in Ardmore Shipping in the 2nd quarter valued at about $33,000. SBI Securities Co. Ltd. increased its position in Ardmore Shipping by 545.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,683 shares of the shipping company's stock valued at $36,000 after acquiring an additional 3,112 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Ardmore Shipping in the 2nd quarter valued at about $38,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.
About Ardmore Shipping
(
Get Free Report)
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.
Read More
Before you consider Ardmore Shipping, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardmore Shipping wasn't on the list.
While Ardmore Shipping currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
