Ashland (NYSE:ASH) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research has upgraded Ashland from a "strong sell" to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• Several other research firms have either lowered their price targets or issued "hold" ratings, indicating a consensus that the stock should stabilize around a target price of $61.43.
• Ashland's recent quarterly earnings report showed a 14.9% decline in revenue year-over-year, and the company missed analysts' EPS estimates, highlighting potential challenges ahead.

Ashland (NYSE:ASH - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also issued reports on ASH. Argus reduced their price target on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. BMO Capital Markets raised their price target on Ashland from $60.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 2nd. Wells Fargo & Company raised their price target on Ashland from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, UBS Group reduced their price target on Ashland from $73.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Ashland has a consensus rating of "Hold" and a consensus target price of $61.43.

Ashland Stock Up 1.8%

Shares of ASH opened at $48.75 on Thursday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -2.60, a PEG ratio of 3.45 and a beta of 0.52. 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 business's fifty day moving average price is $52.77 and its two-hundred day moving average price is $52.27. Ashland has a 52 week low of $45.21 and a 52 week high of $88.89.

Ashland (NYSE:ASH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The firm had revenue of $463.00 million during the quarter, compared to the consensus estimate of $479.34 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. The firm's quarterly revenue was down 14.9% on a year-over-year basis. Ashland has set its FY 2025 guidance at EPS. On average, analysts predict that Ashland will post 4.27 earnings per share for the current year.

Institutional Trading of Ashland

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its position in shares of Ashland by 59.0% in the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 249 shares during the last quarter. UMB Bank n.a. grew its holdings in Ashland by 212.4% during the first quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after purchasing an additional 480 shares during the period. Farther Finance Advisors LLC grew its holdings in Ashland by 2,736.0% during the first quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after purchasing an additional 684 shares during the period. Abound Wealth Management bought a new position in Ashland during the second quarter worth about $40,000. Finally, Allworth Financial LP grew its holdings in Ashland by 63.9% during the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds 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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