Investment Analysts’ Weekly Ratings Updates for Ardmore Shipping (ASC)

A number of firms have modified their ratings and price targets on shares of Ardmore Shipping (NYSE: ASC) recently:

  • 5/23/2019 – Ardmore Shipping was downgraded by analysts at Pareto Securities from a “buy” rating to a “hold” rating.
  • 5/22/2019 – Ardmore Shipping was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/21/2019 – Ardmore Shipping was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.75 price target on the stock. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/15/2019 – Ardmore Shipping was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/14/2019 – Ardmore Shipping was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.25 price target on the stock. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/8/2019 – Ardmore Shipping was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/6/2019 – Ardmore Shipping was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.50 price target on the stock. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “
  • 5/2/2019 – Ardmore Shipping was given a new $8.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 4/16/2019 – Ardmore Shipping was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “

Shares of ASC stock traded up $0.19 during mid-day trading on Wednesday, reaching $7.19. 8,750 shares of the company’s stock traded hands, compared to its average volume of 217,813. Ardmore Shipping Corp has a 12 month low of $4.22 and a 12 month high of $8.65. The stock has a market cap of $233.34 million, a PE ratio of -6.91 and a beta of 1.23. The company has a current ratio of 1.56, a quick ratio of 1.37 and a debt-to-equity ratio of 1.21.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, May 1st. The shipping company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $33.04 million. Ardmore Shipping had a negative net margin of 21.14% and a negative return on equity of 8.92%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS. On average, sell-side analysts forecast that Ardmore Shipping Corp will post -0.02 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of ASC. Bank of New York Mellon Corp raised its position in Ardmore Shipping by 16.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,731,044 shares of the shipping company’s stock worth $11,252,000 after buying an additional 239,627 shares during the last quarter. BlackRock Inc. increased its position in shares of Ardmore Shipping by 1.4% during the 3rd quarter. BlackRock Inc. now owns 1,606,539 shares of the shipping company’s stock valued at $10,443,000 after purchasing an additional 21,978 shares during the last quarter. Vanguard Group Inc increased its position in shares of Ardmore Shipping by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 74,383 shares of the shipping company’s stock valued at $484,000 after purchasing an additional 1,728 shares during the last quarter. Rhumbline Advisers increased its position in shares of Ardmore Shipping by 46.2% during the 4th quarter. Rhumbline Advisers now owns 46,314 shares of the shipping company’s stock valued at $216,000 after purchasing an additional 14,635 shares during the last quarter. Finally, WealthTrust Axiom LLC increased its position in shares of Ardmore Shipping by 21.4% during the 4th quarter. WealthTrust Axiom LLC now owns 150,600 shares of the shipping company’s stock valued at $703,000 after purchasing an additional 26,500 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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