Ashland (NYSE:ASH) Rating Increased to Hold at Wall Street Zen

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

ASH has been the subject of several other reports. JPMorgan Chase & Co. lowered their price target on Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Wells Fargo & Company lowered Ashland from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price target on Ashland from $85.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Ashland has an average rating of "Hold" and a consensus target price of $68.60.

Ashland Trading Down 0.6%

Ashland stock traded down $0.29 during mid-day trading on Friday, hitting $50.73. The company's stock had a trading volume of 513,416 shares, compared to its average volume of 555,019. The firm has a market capitalization of $2.32 billion, a PE ratio of -21.14, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. Ashland has a 1 year low of $45.21 and a 1 year high of $98.44. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 0.52. The stock's fifty day moving average is $50.70 and its two-hundred day moving average is $58.88.

Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). Ashland had a positive return on equity of 7.14% and a negative net margin of 5.74%. The firm had revenue of $479.00 million for the quarter, compared to analysts' expectations of $514.79 million. During the same quarter in the prior year, the business earned $1.27 earnings per share. The company's quarterly revenue was down 16.7% on a year-over-year basis. On average, analysts anticipate that Ashland will post 4.27 EPS for the current year.

Institutional Trading of Ashland

Several hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its stake in shares of Ashland by 6.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company's stock valued at $257,000 after acquiring an additional 211 shares in the last quarter. Boothbay Fund Management LLC raised its stake in Ashland by 5.7% in the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company's stock valued at $373,000 after buying an additional 284 shares in the last quarter. Xponance Inc. raised its stake in Ashland by 5.7% in the fourth quarter. Xponance Inc. now owns 5,613 shares of the basic materials company's stock valued at $401,000 after buying an additional 301 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Ashland by 20.0% in the first quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company's stock valued at $107,000 after buying an additional 303 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Ashland by 10.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company's stock valued at $235,000 after buying an additional 317 shares in 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.