It was the first time Ardmore Shipping (NYSE: ASC) was mentioned by the company’s stock analysts in the research report distributed to investors on Thursday by StockNews.com.
The report was sent out to investors.
A recommendation to “buy” was made by the brokerage firm about the shipping company’s stock.
The most recent quarterly earnings report for Ardmore Shipping’s company was released on Thursday, February 14, 2019, on the NYSE under the ticker symbol ASC.
The shipping company reported earnings per share for the quarter of $1.30, which was $0.02 more than the consensus expectation of $1.28.
Ardmore Shipping had a return on equity of 38.49% and a net margin of 31.06% for the company overall.
The company announced sales for the quarter that came in at $93.33 million, a significant increase over the analysts’ projections of $83.94 million for the quarter’s revenue.
Market analysts predict that Ardmore Shipping will end the current fiscal year with a profit of $2.48 per share, bringing the company’s total profit to $54.88 million.
When trading started on Thursday, a share of Ardmore Shipping was $15.43 per share.
The stock’s price is currently trading at $15.94, higher than its moving averages for the past 50 and 200 days, which are $13.63.
There is a wide range of possible values for the current price of Ardmore Shipping, which ranges from the yearly high of $19.41 to the yearly low of $4.05.
The debt-to-equity ratio comes in at 0.34, the current ratio at 2.98, the quick ratio at 2.68, and the current ratio at 2.98.
The price-to-earnings ratio for the company is 4.57, and its beta value is 0.55.
Its current market value is 616.89 million dollars.
Recently, several different brokerages have offered their opinions or comments regarding ASC.
In a report distributed on November 23, TheStreet moved Ardmore Shipping up from a rating of “c” to one of “b-,” reflecting the firm’s improved financial standing. Jefferies Financial Group gave Ardmore Shipping a “buy” rating in a research report published on Wednesday, February 15.
Additionally, Jefferies Financial Group increased its price target for the company from $17.00 to $20.00, which was also included in the report.
A recommendation to “buy” the company’s stock was included in the report. Five different research experts concluded that buying the stock would benefit the investor.
According to the information obtained from Bloomberg.com, the company is currently rated as a “buy,” and the stock’s average price objective is $13.17.
This rating and price objective were both found to be accurate.
Recent months have seen several different institutional investors buy and sell ASC stakes.
The Trust Finance Corporation established a new position within Ardmore Shipping during the fourth quarter, investing approximately 473,000 dollars.
Alliance Berenstein L.P.
Purchased a new shareholding in Ardmore Shipping during the year’s final three months at approximately 409,000 dollars.
During the last three months of 2018, Vestcor INC spent $144,000 out of its operating capital to acquire a new holding in Ardmore Shipping.
During the third and final quarter of 2018, Squarepoint Ops LLC made investments totaling approximately $565,000 to strengthen its holdings in Ardmore Shipping.
And finally, but certainly not least, Morgan Stanley increased its holdings in Ardmore Shipping by 35.2% over the final three months of 2018.
As a result of the purchase of 237,920 additional shares during the relevant period, Morgan Stanley now has total holdings of 913,151 of the shipping company’s shares of stock, which are currently valued at a total of $13,159,00.
Institutional investors and hedge funds own 64.35 percent of the company’s stock.
The Ardmore Shipping Corp. operates worldwide as a provider of seaborne transportation services for petrochemical and chemical products.
In addition, it is the operator and owner of a fleet of tankers.
Those tankers transport various liquids.
Anthony Gurnee founded the company on April 15, 2010, and it now has its primary place of business in Pembroke, Bermuda.
The date of the company’s establishment is significant.