Ardmore Shipping (NYSE:ASC) Reaches New 52-Week High at $21.19

Ardmore Shipping Co. (NYSE:ASCGet Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.19 and last traded at $20.79, with a volume of 214369 shares trading hands. The stock had previously closed at $20.37.

Analysts Set New Price Targets

Several analysts have commented on ASC shares. StockNews.com raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Ardmore Shipping from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on Ardmore Shipping from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 19th.

Read Our Latest Report on ASC

Ardmore Shipping Price Performance

The stock’s 50 day moving average price is $16.84 and its two-hundred day moving average price is $15.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.79. The firm has a market capitalization of $905.44 million, a price-to-earnings ratio of 8.54 and a beta of 0.36.

Ardmore Shipping (NYSE:ASCGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. Ardmore Shipping had a net margin of 29.15% and a return on equity of 21.06%. The company had revenue of $106.30 million during the quarter, compared to analysts’ expectations of $72.46 million. During the same period in the prior year, the company earned $1.04 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ardmore Shipping Co. will post 3.25 EPS for the current year.

Ardmore Shipping Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, May 31st. This is a positive change from Ardmore Shipping’s previous quarterly dividend of $0.21. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.56%. Ardmore Shipping’s payout ratio is 32.18%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in shares of Ardmore Shipping in the 3rd quarter worth approximately $141,000. Strs Ohio bought a new position in shares of Ardmore Shipping during the third quarter valued at $580,000. WealthTrust Axiom LLC boosted its stake in shares of Ardmore Shipping by 19.4% in the 3rd quarter. WealthTrust Axiom LLC now owns 110,276 shares of the shipping company’s stock valued at $1,435,000 after purchasing an additional 17,900 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Ardmore Shipping in the 3rd quarter worth about $247,000. Finally, Barclays PLC grew its holdings in shares of Ardmore Shipping by 151.3% in the 3rd quarter. Barclays PLC now owns 20,591 shares of the shipping company’s stock worth $268,000 after purchasing an additional 12,397 shares during the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

About Ardmore Shipping

(Get Free Report)

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.

See Also

Receive News & Ratings for Ardmore Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardmore Shipping and related companies with MarketBeat.com's FREE daily email newsletter.