Latest Stocks: ValuEngine Downgrades Ardmore Shipping Corp (ASC) to Sell

Latest Stocks: ValuEngine Downgrades Ardmore Shipping Corp (ASC) to Sell

Ardmore Shipping Corp (NYSE:ASC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities analysts also recently commented on ASC. ABN Amro upgraded Ardmore Shipping Corp from a “hold” rating to a “buy” rating and set a $11.50 target price for the company in a report on Monday, March 6th. Zacks Investment Research downgraded Ardmore Shipping Corp from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Jefferies Group LLC restated a “buy” rating and set a $10.00 target price on shares of Ardmore Shipping Corp in a report on Monday, April 24th. Finally, TheStreet downgraded Ardmore Shipping Corp from a “c-” rating to a “d” rating in a report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.13.

Ardmore Shipping Corp (NYSE ASC) opened at 7.20 on Friday. Ardmore Shipping Corp has a 12-month low of $5.00 and a 12-month high of $9.89. The firm’s 50-day moving average is $7.53 and its 200 day moving average is $7.37. The company’s market cap is $241.74 million.

Ardmore Shipping Corp (NYSE:ASC) last announced its earnings results on Wednesday, May 3rd. The shipping company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $49.67 million during the quarter, compared to the consensus estimate of $30.75 million. Ardmore Shipping Corp had a return on equity of 1.64% and a net margin of 2.28%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts expect that Ardmore Shipping Corp will post ($0.05) earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Scoria Capital Partners LP purchased a new position in Ardmore Shipping Corp during the third quarter worth about $352,000. Russell Investments Group Ltd. purchased a new position in Ardmore Shipping Corp during the fourth quarter worth about $1,798,000. Signia Capital Management LLC increased its position in Ardmore Shipping Corp by 24.9% in the fourth quarter. Signia Capital Management LLC now owns 335,440 shares of the shipping company’s stock worth $2,482,000 after buying an additional 66,963 shares during the period. Eii Capital Management Inc. increased its position in Ardmore Shipping Corp by 37.0% in the fourth quarter. Eii Capital Management Inc. now owns 327,560 shares of the shipping company’s stock worth $2,424,000 after buying an additional 88,450 shares during the period. Finally, Van Den Berg Management I Inc. increased its position in Ardmore Shipping Corp by 248.6% in the fourth quarter. Van Den Berg Management I Inc. now owns 352,453 shares of the shipping company’s stock worth $2,608,000 after buying an additional 251,358 shares during the period. Institutional investors and hedge funds own 70.35% of the company’s stock.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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