Evercore ISI Maintains a Buy on Ardmore Shipping (ASC), Sets a $12 PT
Ardmore Shipping Corporation (NYSE:ASC) is one of the best shipping and container stocks to invest in now. In a report released on July 22, Jonathan Chappell from Evercore ISI maintained a Buy rating on Ardmore Shipping Corporation (NYSE:ASC) and set a price target of $12.00.
A tanker filled with petroleum products, sailing through a calm sea.
Ardmore Shipping Corporation (NYSE:ASC) reported $5.6 million in reported adjusted earnings and net income attributable to common stockholders for the three months ended March 31, which translates to $0.14 earnings per basic and diluted share.
The company also reported that MR tankers earned an average TCE rate of $20,942 per day for the quarter, while chemical tankers earned an average TCE rate of $14,975 per day.
Ardmore Shipping Corporation (NYSE:ASC) provides seaborne transportation services for petroleum products and chemicals. It offers its services to major national oil companies, oil majors, chemical companies, and oil and chemical traders across the globe. The company also owns and operates a fleet of tankers.
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Disclosure: None. This article is originally published at Insider Monkey.
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