Ardmore Shipping (NYSE:ASC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Ardmore Shipping (NYSE:ASC) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a buy rating and set a $20.00 price target on shares of Ardmore Shipping in a research report on Thursday, February 15th. Stifel Nicolaus lifted their price target on 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

NYSE ASC opened at $17.62 on Tuesday. The company has a market capitalization of $715.70 million, a P/E ratio of 6.45 and a beta of 0.36. Ardmore Shipping has a 12-month low of $11.59 and a 12-month high of $17.84. The company has a quick ratio of 3.38, a current ratio of 3.75 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $15.24.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Thursday, February 15th. The shipping company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Ardmore Shipping had a return on equity of 22.76% and a net margin of 29.50%. The firm had revenue of $98.80 million during the quarter, compared to the consensus estimate of $64.26 million. During the same period in the prior year, the company posted $1.33 EPS. The company’s revenue was down 25.6% compared to the same quarter last year. Analysts anticipate that Ardmore Shipping will post 2.72 earnings per share for the current year.

Ardmore Shipping Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.21 dividend. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 4.77%. Ardmore Shipping’s dividend payout ratio is presently 30.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capricorn Fund Managers Ltd acquired a new position in Ardmore Shipping in the 4th quarter worth about $423,000. Qube Research & Technologies Ltd boosted its position in Ardmore Shipping by 23.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 291,861 shares of the shipping company’s stock worth $3,797,000 after buying an additional 55,813 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Ardmore Shipping by 9.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 35,214 shares of the shipping company’s stock worth $496,000 after acquiring an additional 3,108 shares during the last quarter. Bailard Inc. acquired a new position in Ardmore Shipping in the 4th quarter valued at approximately $239,000. Finally, Alps Advisors Inc. raised its stake in shares of Ardmore Shipping by 147.0% during the third quarter. Alps Advisors Inc. now owns 45,205 shares of the shipping company’s stock valued at $576,000 after acquiring an additional 26,900 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Company Profile

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.