Ardmore Shipping (NYSE:ASC) PT Raised to $22.00 at Stifel Nicolaus

Ardmore Shipping (NYSE:ASC) had its target price raised by Stifel Nicolaus from $21.00 to $22.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the shipping company’s stock.

Several other research firms have also commented on ASC. StockNews.com lowered shares of Ardmore Shipping from a buy rating to a hold rating in a research note on Friday. Jefferies Financial Group reissued a buy rating and issued a $20.00 price target on shares of Ardmore Shipping in a research report on Thursday, February 15th.

Ardmore Shipping Stock Up 0.9 %

Shares of ASC opened at $16.03 on Friday. The firm has a market cap of $651.30 million, a P/E ratio of 5.87 and a beta of 0.38. Ardmore Shipping has a 12-month low of $11.59 and a 12-month high of $17.05. The company’s 50-day moving average price is $16.19 and its 200 day moving average price is $14.94. The company has a current ratio of 3.75, a quick ratio of 3.38 and a debt-to-equity ratio of 0.15.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings data on Thursday, February 15th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $64.26 million. Ardmore Shipping had a net margin of 29.50% and a return on equity of 22.76%. Ardmore Shipping’s revenue was down 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. On average, sell-side analysts forecast that Ardmore Shipping will post 2.66 earnings per share for the current year.

Ardmore Shipping Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.21 per share. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 5.24%. Ardmore Shipping’s dividend payout ratio is 30.77%.

Institutional Investors Weigh In On Ardmore Shipping

Several large investors have recently bought and sold shares of ASC. Sunbelt Securities Inc. purchased a new stake in Ardmore Shipping during the 1st quarter worth about $54,000. Quadrant Capital Group LLC increased its holdings in Ardmore Shipping by 87.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,382 shares of the shipping company’s stock worth $62,000 after purchasing an additional 2,042 shares during the period. Mackenzie Financial Corp purchased a new stake in Ardmore Shipping during the 3rd quarter worth about $141,000. MJP Associates Inc. ADV purchased a new stake in Ardmore Shipping during the 4th quarter worth about $141,000. Finally, Raymond James & Associates purchased a new stake in Ardmore Shipping during the 4th quarter worth about $141,000. Hedge funds and other institutional investors 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.