Ardmore Shipping Corp PT Lowered to $16.00 (ASC)

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Equities research analysts at Evercore Partners lowered their price target on shares of Ardmore Shipping Corp (NYSE:ASC) from $17.00 to $16.00 in a research note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. Evercore Partners’ price target suggests a potential upside of 23.36% from the company’s current price.

Shares of Ardmore Shipping Corp (NYSE:ASC) traded down 1.46% during mid-day trading on Wednesday, hitting $12.78. 166,671 shares of the company’s stock traded hands. Ardmore Shipping Corp has a 52 week low of $11.32 and a 52 week high of $15.84. The stock has a 50-day moving average of $12.99 and a 200-day moving average of $13.50. The company’s market cap is $320.1 million.

Ardmore Shipping Corp (NYSE:ASC) last announced its earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.02). On average, analysts predict that Ardmore Shipping Corp will post $0.09 earnings per share for the current fiscal year.

Separately, analysts at Jefferies Group cut their price target on shares of Ardmore Shipping Corp from $20.00 to $18.00 in a research note on Monday, April 21st. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $17.60.

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies.

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