Ardmore Shipping (NYSE:ASC) Given New $11.00 Price Target at Stifel Nicolaus

Ardmore Shipping (NYSE:ASC) had its price target reduced by Stifel Nicolaus from $13.00 to $11.00 in a research note issued to investors on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the shipping company’s stock.

Separately, Jefferies Financial Group restated a “buy” rating and issued a $17.00 price target on shares of Ardmore Shipping in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Ardmore Shipping Stock Down 2.7 %

NYSE ASC opened at $10.43 on Friday. The stock has a fifty day moving average of $11.89 and a 200-day moving average of $14.84. The stock has a market capitalization of $436.29 million, a P/E ratio of 2.92 and a beta of 0.25. Ardmore Shipping has a 52 week low of $10.22 and a 52 week high of $23.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a net margin of 36.22% and a return on equity of 23.63%. On average, equities research analysts forecast that Ardmore Shipping will post 2.8 EPS for the current year.

Ardmore Shipping Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 3.07%. Ardmore Shipping’s dividend payout ratio is currently 23.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASC. GAMMA Investing LLC lifted its holdings in Ardmore Shipping by 261.1% during the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company’s stock worth $26,000 after acquiring an additional 1,530 shares in the last quarter. Signaturefd LLC lifted its holdings in Ardmore Shipping by 63.3% during the fourth quarter. Signaturefd LLC now owns 2,371 shares of the shipping company’s stock worth $29,000 after acquiring an additional 919 shares in the last quarter. Private Trust Co. NA bought a new position in Ardmore Shipping during the third quarter worth about $31,000. Farther Finance Advisors LLC lifted its holdings in Ardmore Shipping by 302.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company’s stock worth $31,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Ardmore Shipping by 2,906.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock worth $54,000 after acquiring an additional 2,906 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors.

Ardmore Shipping Company Profile

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.