Ashland (NYSE:ASH) Coverage Initiated by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has initiated coverage on Ashland (NYSE:ASH) with an "equal weight" rating and a price target of $60.00, representing a potential upside of 9.33% from the stock's previous close.
• The consensus rating for Ashland among analysts is "Hold," with an average target price of $61.43, reflecting varied outlooks as some firms have issued buy ratings while others have suggested hold positions.
• In its recent earnings report, Ashland posted an EPS of $1.04, missing estimates by $0.11, and reported a 14.9% decline in revenue year-over-year, highlighting challenges in the company's financial performance.

Research analysts at Morgan Stanley initiated coverage on shares of Ashland (NYSE:ASH - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set an "equal weight" rating and a $60.00 price target on the basic materials company's stock. Morgan Stanley's price target would indicate a potential upside of 13.43% from the stock's previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their price objective on Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. UBS Group dropped 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. BMO Capital Markets boosted 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. Finally, Argus dropped 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. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $61.43.

Ashland Trading Down 3.3%

Shares of NYSE ASH traded down $1.80 during trading hours on Monday, hitting $52.89. The company's stock had a trading volume of 344,459 shares, compared to its average volume of 399,527. 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 stock has a market cap of $2.42 billion, a price-to-earnings ratio of -2.82, a P/E/G ratio of 3.94 and a beta of 0.52. Ashland has a 12 month low of $45.21 and a 12 month high of $89.09. The business has a 50-day simple moving average of $53.28 and a 200-day simple moving average of $52.90.

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

Institutional Investors Weigh In On Ashland

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its stake in shares of Ashland by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company's stock worth $226,000 after purchasing an additional 225 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 249 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Ashland by 11.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,457 shares of the basic materials company's stock worth $124,000 after buying an additional 252 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Ashland by 4.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,734 shares of the basic materials company's stock worth $389,000 after buying an additional 294 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Ashland by 20.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company's stock worth $107,000 after buying an additional 303 shares in the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

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.