Stifel Nicolaus Lowers Ardmore Shipping (NYSE:ASC) Price Target to $11.00

Ardmore Shipping (NYSE:ASC) had its target price cut by stock analysts at Stifel Nicolaus from $13.00 to $11.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 6.25% from the stock’s current price.

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 target price on shares of Ardmore Shipping in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ardmore Shipping presently has a consensus rating of “Hold” and an average target price of $18.00.

Ardmore Shipping Stock Performance

Ardmore Shipping stock traded down $0.37 during mid-day trading on Friday, reaching $10.35. The company’s stock had a trading volume of 444,975 shares, compared to its average volume of 722,208. The firm has a market cap of $433.17 million, a price-to-earnings ratio of 2.91 and a beta of 0.25. The business has a 50 day moving average price of $11.89 and a 200-day moving average price of $14.84. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. Ardmore Shipping has a twelve month low of $10.32 and a twelve month high of $23.44.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 23.63% and a net margin of 36.22%. Sell-side analysts predict that Ardmore Shipping will post 2.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardmore Shipping

Several hedge funds and other institutional investors have recently bought and sold shares of ASC. GAMMA Investing LLC raised its position in Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock worth $26,000 after acquiring an additional 1,530 shares in the last quarter. Signaturefd LLC raised its position in Ardmore Shipping by 63.3% in the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company’s stock worth $29,000 after acquiring an additional 919 shares in the last quarter. Private Trust Co. NA purchased a new position in Ardmore Shipping in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC increased its stake in Ardmore Shipping by 302.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock worth $31,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Ardmore Shipping by 2,906.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock worth $54,000 after purchasing an additional 2,906 shares in the last quarter. 62.22% of the stock is currently 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.