Jefferies Thinks Ardmore Shipping’s Stock is Going to Recover
In a report released today, Randy Giveans from Jefferies maintained a Buy rating on Ardmore Shipping (ASC), with a price target of $6.00. The company’s shares closed last Thursday at $3.02, close to its 52-week low of $2.94.
According to TipRanks.com, Giveans is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -15.8% and a 25.0% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as Navios Maritime Partners, Nordic American Tanker, and International Seaways.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ardmore Shipping with a $6.00 average price target.
See today’s analyst top recommended stocks >>
Based on Ardmore Shipping’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $67.93 million and net profit of $13.58 million. In comparison, last year the company earned revenue of $54.99 million and had a GAAP net loss of $9.94 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ardmore Shipping Corp. engages in the ocean transportation of petroleum and chemical products in international trade through the ownership and operation of a fleet of tankers. It provides shipping services through voyage charters, time charters, and commercial pools. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.