Seaport Global Securities set a $12.00 price target on Ardmore Shipping (NYSE:ASC) in a research report report published on Thursday. The firm currently has a buy rating on the shipping company’s stock.
Several other research analysts have also issued reports on ASC. ValuEngine lowered Ardmore Shipping from a hold rating to a sell rating in a report on Friday, December 1st. Jefferies Group reiterated a buy rating and issued a $10.00 price target on shares of Ardmore Shipping in a report on Monday, October 16th. Zacks Investment Research upgraded Ardmore Shipping from a hold rating to a buy rating and set a $9.50 price target on the stock in a report on Tuesday, October 3rd. Morgan Stanley increased their price target on Ardmore Shipping from $8.50 to $9.00 and gave the stock an equal weight rating in a report on Thursday, November 2nd. Finally, Stifel Nicolaus set a $10.00 price target on Ardmore Shipping and gave the stock a buy rating in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $10.50.
Shares of Ardmore Shipping (ASC) traded down $0.10 during trading on Thursday, hitting $8.15. The company had a trading volume of 152,700 shares, compared to its average volume of 224,700. Ardmore Shipping has a 52 week low of $6.60 and a 52 week high of $9.05. The company has a current ratio of 1.57, a quick ratio of 1.41 and a debt-to-equity ratio of 1.03. The company has a market cap of $277.00, a price-to-earnings ratio of -22.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31.
Large investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its holdings in Ardmore Shipping by 283.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 98,771 shares of the shipping company’s stock worth $815,000 after acquiring an additional 72,979 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ardmore Shipping by 88.7% in the second quarter. Northern Trust Corp now owns 919,286 shares of the shipping company’s stock worth $7,492,000 after purchasing an additional 432,042 shares during the last quarter. Royce & Associates LP raised its stake in shares of Ardmore Shipping by 13.5% in the third quarter. Royce & Associates LP now owns 1,945,525 shares of the shipping company’s stock worth $16,051,000 after purchasing an additional 231,950 shares during the last quarter. Ingalls & Snyder LLC raised its stake in shares of Ardmore Shipping by 44.7% in the third quarter. Ingalls & Snyder LLC now owns 397,080 shares of the shipping company’s stock worth $3,276,000 after purchasing an additional 122,630 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Ardmore Shipping in the third quarter worth approximately $4,592,000. Institutional investors and hedge funds own 75.63% of the company’s stock.
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About Ardmore Shipping
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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