Ashland (NYSE:ASH) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Ashland has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen, indicating a more favorable outlook for the stock.
• BMO Capital Markets and Argus have both adjusted their price objectives for Ashland, with BMO raising it to $61.00 and Argus lowering it to $65.00, reflecting differing opinions on the stock's value.
• The overall consensus rating for Ashland is currently a "hold" with an average price target of $60.43, illustrating mixed sentiments among analysts.

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

A number of other equities analysts have also commented on ASH. BMO Capital Markets raised their price objective on shares of Ashland from $60.00 to $61.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 2nd. Morgan Stanley started coverage on shares of Ashland in a research note on Monday, September 8th. They issued an "equal weight" rating and a $60.00 price objective for the company. Argus decreased their price objective on shares of Ashland from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Tuesday, August 26th. Zacks Research raised shares of Ashland from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 25th. Finally, UBS Group decreased their price objective on shares of Ashland from $73.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.43.

Ashland Stock Performance

Shares of NYSE:ASH opened at $48.94 on Monday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -2.61, a PEG ratio of 11.23 and a beta of 0.49. Ashland has a 1-year low of $45.21 and a 1-year 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. The company has a 50 day moving average price of $51.82 and a 200 day moving average price of $51.29.

Ashland (NYSE:ASH - Get Free Report) last issued its earnings results on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. The firm 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. On average, research analysts anticipate that Ashland will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Ashland

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in Ashland by 59.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock worth $34,000 after buying an additional 249 shares in the last quarter. Abound Wealth Management bought a new position in shares of Ashland during the 2nd quarter valued at $40,000. Farther Finance Advisors LLC raised its holdings 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 valued at $41,000 after purchasing an additional 684 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Ashland by 63.9% during the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 325 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Ashland by 93.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company's stock.

About Ashland

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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