Ashland (NYSE:ASH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley raised Ashland’s price target from $58 to $78 while maintaining an “equal weight” rating, implying 8.79% upside from the prior close.
• Analyst sentiment is broadly positive: Ashland has a consensus “Moderate Buy” rating and an average price target of $73.90, with seven Buy ratings and five Holds.
• Ashland shares closed at $71.70, near their 12-month high of $74.99, while institutional investors and hedge funds own approximately 93.95% of the stock.

Ashland (NYSE:ASH - Get Free Report) had its price target hoisted by analysts at Morgan Stanley from $58.00 to $78.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the basic materials company's stock. Morgan Stanley's target price would indicate a potential upside of 8.79% from the stock's previous close.

Several other equities research analysts have also recently issued reports on ASH. Mizuho lifted their price objective on Ashland from $75.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price target on Ashland from $50.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. BMO Capital Markets lifted their target price on shares of Ashland from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Ashland from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $85.00 price target on shares of Ashland in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ashland currently has an average rating of "Moderate Buy" and a consensus price target of $73.90.

Ashland Stock Performance

Shares of ASH stock remained flat at $71.70 on Thursday. 335,197 shares of the stock were exchanged, compared to its average volume of 832,537. The company has a market cap of $3.28 billion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 1.74 and a beta of 0.40. The firm has a 50-day moving average of $65.49 and a 200-day moving average of $60.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. Ashland has a twelve month low of $46.29 and a twelve month high of $74.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. increased its position in shares of Ashland by 23.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,801,062 shares of the basic materials company's stock worth $105,668,000 after purchasing an additional 345,919 shares in the last quarter. Thames Capital Management LLC acquired a new position in Ashland during the fourth quarter worth approximately $10,342,000. ING Groep NV purchased a new stake in Ashland in the fourth quarter valued at approximately $9,974,000. Sivia Capital Partners LLC purchased a new position in shares of Ashland during the second quarter worth approximately $264,000. Finally, Comerica Bank increased its holdings in shares of Ashland by 346.6% in the 4th quarter. Comerica Bank now owns 83,712 shares of the basic materials company's stock valued at $4,911,000 after acquiring an additional 64,968 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

About Ashland

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

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