H.C. Wainwright analyst Magnus Fyhr maintained a Buy rating on Ardmore Shipping (ASC – Research Report) today and set a price target of $8.50. The company’s shares closed last Thursday at $5.51, close to its 52-week high of $5.67.
According to TipRanks.com, Fyhr is a 4-star analyst with an average return of 9.9% and a 63.8% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Performance Shipping.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ardmore Shipping with a $8.50 average price target.
Ardmore Shipping’s market cap is currently $189.3M and has a P/E ratio of -4.91.
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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.
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