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

Ardmore Shipping (NYSE:ASC - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Monday.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group restated a "buy" rating and set a $20.00 price target on shares of Ardmore Shipping in a report on Thursday, February 15th. Stifel Nicolaus boosted their target price on shares of Ardmore Shipping from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, April 19th.

Ardmore Shipping Stock Performance

Shares of NYSE:ASC traded up $0.12 on Monday, hitting $17.01. The company's stock had a trading volume of 392,740 shares, compared to its average volume of 629,166. Ardmore Shipping has a 12 month low of $11.59 and a 12 month high of $17.05. The stock's 50-day moving average is $16.22 and its two-hundred day moving average is $15.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.38 and a current ratio of 3.75. The company has a market capitalization of $691.07 million, a price-to-earnings ratio of 6.23 and a beta of 0.38.

Ardmore Shipping (NYSE:ASC - Get Free Report) last issued its quarterly 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. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. The company had revenue of $98.80 million during the quarter, compared to analyst estimates of $64.26 million. During the same period in the prior year, the business posted $1.33 EPS. The business's revenue for the quarter was down 25.6% compared to the same quarter last year. On average, equities research analysts forecast that Ardmore Shipping will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. bought a new position in Ardmore Shipping in the 1st quarter worth $54,000. Quadrant Capital Group LLC grew its position in shares of Ardmore Shipping by 87.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company's stock valued at $62,000 after purchasing an additional 2,042 shares during the last quarter. MJP Associates Inc. ADV bought a new position in shares of Ardmore Shipping in the fourth quarter worth about $141,000. Advisor OS LLC acquired a new position in shares of Ardmore Shipping during the 4th quarter worth about $141,000. Finally, Raymond James & Associates acquired a new position in shares of Ardmore Shipping during the 4th quarter worth about $141,000. 62.22% of the stock is owned by institutional investors.

About Ardmore Shipping

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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