Ardmore Shipping Co. (NYSE:ASC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.17 and last traded at $16.86, with a volume of 95435 shares trading hands. The stock had previously closed at $17.01.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ASC. StockNews.com cut shares of Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Monday. Jefferies Financial Group reaffirmed a "buy" rating and set a $20.00 target price on shares of Ardmore Shipping in a research note on Thursday, February 15th. Finally, Stifel Nicolaus boosted their target price on shares of Ardmore Shipping from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, April 19th.
Read Our Latest Research Report on ASC
Ardmore Shipping Trading Down 1.5 %
The business's 50 day simple moving average is $16.23 and its two-hundred day simple moving average is $15.10. The stock has a market cap of $680.55 million, a P/E ratio of 6.14 and a beta of 0.38. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $98.80 million for the quarter, compared to analysts' expectations of $64.26 million. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The company's revenue was down 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, analysts expect that Ardmore Shipping Co. will post 2.72 EPS for the current year.
Ardmore Shipping Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Wednesday, February 28th. This is a positive change from Ardmore Shipping's previous quarterly dividend of $0.16. Ardmore Shipping's payout ratio is 30.77%.
Hedge Funds Weigh In On Ardmore Shipping
Hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new position in shares of Ardmore Shipping during the first quarter worth $54,000. Quadrant Capital Group LLC lifted its holdings in shares of Ardmore Shipping by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company's stock worth $62,000 after purchasing an additional 2,042 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Ardmore Shipping during the third quarter worth $141,000. MJP Associates Inc. ADV acquired a new position in Ardmore Shipping in the fourth quarter valued at $141,000. Finally, Raymond James & Associates acquired a new position in Ardmore Shipping in the fourth quarter valued at $141,000. Institutional investors and hedge funds own 62.22% of the company's stock.
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.
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