Ashland (NYSE:ASH) Downgraded by Wall Street Zen to "Sell"

Key Points

• Ashland has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, reflecting changes in market sentiment.
• Despite the downgrade, opinions on the stock vary, with four analysts rating it as a buy, five as hold, and one as sell.
• The company's current stock price is around $47.53, significantly lower than its 52-week high of $88.89, indicating potential volatility.

Ashland (NYSE:ASH - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

A number of other research firms have also recently commented on ASH. Argus lowered their price objective on shares of Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. BMO Capital Markets upped their price objective on shares of Ashland from $60.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday, September 2nd. Morgan Stanley assumed coverage on shares of Ashland in a research report on Monday, September 8th. They issued an "equal weight" rating and a $60.00 price objective for the company. Zacks Research upgraded shares of Ashland from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 25th. Finally, Mizuho lowered their price objective on shares of Ashland from $58.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.57.

Ashland Stock Performance

Shares of Ashland stock opened at $47.53 on Friday. The firm has a fifty day moving average of $52.12 and a two-hundred day moving average of $51.64. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -2.54, a PEG ratio of 10.80 and a beta of 0.49. Ashland has a 52 week low of $45.21 and a 52 week high of $88.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 2.68.

Ashland (NYSE:ASH - Get Free Report) last issued its earnings results on Thursday, June 9th. The basic materials company reported $0.56 EPS for the quarter. The company had revenue of $509.00 million during the quarter. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. Ashland has set its FY 2022 guidance at EPS. As a group, equities research analysts predict that Ashland will post 4.27 EPS for the current year.

Hedge Funds Weigh In On Ashland

A number of large investors have recently modified their holdings of ASH. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ashland by 10.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company's stock worth $235,000 after buying an additional 317 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Ashland by 212.4% during the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after buying an additional 480 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after buying an additional 684 shares during the last quarter. Great Lakes Retirement Inc. boosted its stake in shares of Ashland by 5.6% during the 1st quarter. Great Lakes Retirement Inc. now owns 10,087 shares of the basic materials company's stock worth $598,000 after buying an additional 533 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Ashland by 46.2% during the 1st quarter. QRG Capital Management Inc. now owns 20,032 shares of the basic materials company's stock worth $1,188,000 after buying an additional 6,332 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.

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