Ardmore Shipping (NYSE:ASC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other research firms have also commented on ASC. Zacks Investment Research lowered shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Stifel Nicolaus set a $9.00 price objective on shares of Ardmore Shipping and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase raised their price objective on shares of Ardmore Shipping from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, March 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Ardmore Shipping has a consensus rating of “Hold” and an average price target of $10.42.
NYSE ASC opened at $7.95 on Thursday. Ardmore Shipping has a 12 month low of $6.40 and a 12 month high of $9.05. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. The company has a market cap of $268.61 million, a P/E ratio of -21.49 and a beta of 0.94.
A number of institutional investors have recently bought and sold shares of ASC. A.R.T. Advisors LLC acquired a new position in Ardmore Shipping in the first quarter worth approximately $117,000. Citadel Advisors LLC acquired a new position in Ardmore Shipping in the first quarter worth approximately $138,000. Two Sigma Securities LLC acquired a new position in Ardmore Shipping in the fourth quarter worth approximately $203,000. Schwab Charles Investment Management Inc. grew its position in Ardmore Shipping by 26.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 58,600 shares of the shipping company’s stock worth $446,000 after buying an additional 12,100 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its position in Ardmore Shipping by 13.3% in the first quarter. OppenheimerFunds Inc. now owns 65,868 shares of the shipping company’s stock worth $501,000 after buying an additional 7,735 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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