Ardmore Shipping Corp (ASC) Receives Consensus Recommendation of “Hold” from Analysts

Ardmore Shipping Corp (NYSE:ASC) has received an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $10.50.

ASC has been the subject of a number of recent research reports. Stifel Nicolaus set a $9.00 price objective on Ardmore Shipping and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Seaport Global Securities set a $12.00 target price on Ardmore Shipping and gave the stock a “buy” rating in a research note on Thursday, January 4th. Jefferies Group began coverage on Ardmore Shipping in a research note on Monday, December 18th. They set a “buy” rating and a $11.00 target price for the company. Morgan Stanley increased their target price on Ardmore Shipping from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th.

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Ardmore Shipping by 283.0% during the 3rd quarter. State Board of Administration....

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