Ardmore Shipping (NYSE:ASC) Given New $26.00 Price Target at Evercore ISI

Ardmore Shipping (NYSE:ASC) had its price target raised by stock analysts at Evercore ISI from $25.00 to $26.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s price objective would indicate a potential upside of 22.47% from the stock’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lifted their price objective 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. StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th.

Ardmore Shipping Trading Down 0.2 %

Shares of NYSE ASC traded down $0.04 on Tuesday, reaching $21.23. 165,028 shares of the company traded hands, compared to its average volume of 676,932. The company has a 50 day moving average of $21.84 and a 200 day moving average of $18.27. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. Ardmore Shipping has a fifty-two week low of $11.78 and a fifty-two week high of $23.44. The stock has a market capitalization of $862.57 million, a PE ratio of 8.11 and a beta of 0.39.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.05. The company had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $72.46 million. Ardmore Shipping had a return on equity of 21.06% and a net margin of 29.15%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. On average, equities research analysts forecast that Ardmore Shipping will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Ardmore Shipping by 23.9% in the 4th quarter. Wellington Management Group LLP now owns 696,697 shares of the shipping company’s stock worth $9,816,000 after purchasing an additional 134,233 shares during the last quarter. Sei Investments Co. boosted its position in shares of Ardmore Shipping by 15.0% in the first quarter. Sei Investments Co. now owns 495,593 shares of the shipping company’s stock worth $8,138,000 after buying an additional 64,805 shares during the period. LSV Asset Management purchased a new stake in Ardmore Shipping in the 1st quarter worth about $714,000. Russell Investments Group Ltd. lifted its position in shares of Ardmore Shipping by 51.1% in the fourth quarter. Russell Investments Group Ltd. now owns 606,898 shares of the shipping company’s stock worth $8,551,000 after purchasing an additional 205,245 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Ardmore Shipping during the first quarter worth approximately $2,170,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

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.