Ashland (NYSE:ASH) Price Target Cut to $67.00 by Analysts at JPMorgan Chase & Co.

Ashland (NYSE:ASH - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $71.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 34.27% from the company's previous close.

Several other brokerages also recently commented on ASH. Seaport Res Ptn downgraded shares of Ashland from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group reduced their price target on shares of Ashland from $85.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho set a $60.00 target price on shares of Ashland in a research note on Tuesday, April 15th. Wells Fargo & Company downgraded shares of Ashland from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Finally, StockNews.com cut shares of Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.60.

Ashland Price Performance

Shares of NYSE ASH traded down $0.09 during mid-day trading on Tuesday, hitting $49.90. 31,658 shares of the company's stock traded hands, compared to its average volume of 526,142. The company's 50-day moving average is $53.62 and its two-hundred day moving average is $66.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. Ashland has a 1 year low of $45.21 and a 1 year high of $102.50. The company has a market capitalization of $2.28 billion, a P/E ratio of -75.60, a PEG ratio of 1.14 and a beta of 0.58.

Ashland (NYSE:ASH - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.11). The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $514.79 million. Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 EPS. On average, equities analysts anticipate that Ashland will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Ashland

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc purchased a new position in Ashland during the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ashland during the third quarter worth about $38,000. Farther Finance Advisors LLC increased its holdings in shares of Ashland by 2,736.0% during the first quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 684 shares in the last quarter. UMB Bank n.a. raised its position in shares of Ashland by 212.4% in the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 480 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Ashland by 63.9% in 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 during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

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.