Stifel Nicolaus Increases Ardmore Shipping (NYSE:ASC) Price Target to $24.00

Ardmore Shipping (NYSE:ASC) had its price target raised by analysts at Stifel Nicolaus from $22.00 to $24.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 15.27% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Evercore ISI lifted their price target on shares of Ardmore Shipping from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group lifted their price target on shares of Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th.

Ardmore Shipping Price Performance

Ardmore Shipping stock opened at $20.82 on Wednesday. The company has a fifty day simple moving average of $21.76 and a 200-day simple moving average of $18.35. Ardmore Shipping has a 12-month low of $11.78 and a 12-month high of $23.44. The company has a current ratio of 1.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. The stock has a market cap of $845.92 million, a P/E ratio of 7.98 and a beta of 0.39.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.87 by $0.05. Ardmore Shipping had a net margin of 29.15% and a return on equity of 21.06%. The firm had revenue of $106.30 million for the quarter, compared to analyst estimates of $72.46 million. During the same period last year, the business earned $1.04 EPS. Ardmore Shipping’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities analysts expect that Ardmore Shipping will post 3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Simplicity Solutions LLC increased its stake in Ardmore Shipping by 4.6% in the fourth quarter. Simplicity Solutions LLC now owns 15,476 shares of the shipping company’s stock valued at $218,000 after purchasing an additional 678 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Ardmore Shipping by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 15,476 shares of the shipping company’s stock worth $218,000 after acquiring an additional 678 shares during the period. CWM LLC increased its stake in shares of Ardmore Shipping by 72.7% during the second quarter. CWM LLC now owns 2,110 shares of the shipping company’s stock worth $48,000 after acquiring an additional 888 shares during the period. Fortitude Family Office LLC increased its stake in shares of Ardmore Shipping by 322.0% during the second quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock worth $28,000 after acquiring an additional 953 shares during the period. Finally, Simplicity Wealth LLC increased its stake in shares of Ardmore Shipping by 5.8% during the second quarter. Simplicity Wealth LLC now owns 22,248 shares of the shipping company’s stock worth $501,000 after acquiring an additional 1,212 shares during the period. 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.