Ardmore Shipping (NYSE:ASC – Get Free Report) was downgraded from a “buy” rating to a “hold” rating by stock analysts at StockNews.com in a note sent to investors on Wednesday.

ASC has been the subject of a number of other research reports. Jefferies Financial Group raised their price objective on shares of Ardmore Shipping from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Ardmore Shipping from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Ardmore Shipping from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

View our latest Ardmore Shipping inventory report

Ardmore Shipping Stock Performance

Shares of ASC opened at $18.63 on Wednesday. The company has a market cap of $756.88 million, a price-to-earnings ratio of 7.14 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.50. The company has a 50-day simple moving average of $20.66 and a 200-day simple moving average of $18.93. Ardmore Shipping has a 52-week low of $11.78 and a 52-week high of $23.44.

Ardmore Shipping (NYSE:ASC – Get Free Report) last announced its earnings results on Wednesday, July 31. The shipping company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The company had revenue of $121.30 million during the quarter, compared to the consensus estimate of $80.51 million. Ardmore Shipping had a net margin of 36.31% and a return on equity of 24.26%. Ardmore Shipping’s revenue increased by 32.0% compared to the year-ago quarter. During the same quarter last year, the company posted $0.57 EPS. On average, sell-side analysts are predicting that Ardmore Shipping will post $3.49 EPS for the current year.

Institutional investors weigh in on Ardmore Shipping

A number of institutional investors have recently added to or reduced their stakes in ASC. Fortitude Family Office LLC increased its stake in shares of Ardmore Shipping by 322.0% in the 2nd quarter. Fortitude Family Office LLC now owns 1,249 shares of the shipping company’s stock worth $28,000 after purchasing an additional 953 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardmore Shipping in the second quarter worth $29,000. Larson Financial Group LLC purchased a new position in Ardmore Shipping in the second quarter worth $34,000. nVerses Capital LLC purchased a new position in Ardmore Shipping in the second quarter worth $47,000. Finally, CWM LLC increased its stake in Ardmore Shipping by 72.7% in 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 in the last quarter. Institutional investors hold 62.22% of the stock.

Profile of Ardmore Shipping Company

(Get free report)

Ardmore Shipping Corporation is engaged in the maritime 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 vessels. The company serves oil majors, oil companies, oil and chemical traders, chemical companies and pooling service providers.

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