Ashland Inc. (NYSE:ASH - Free Report) - Seaport Res Ptn dropped their Q3 2024 EPS estimates for Ashland in a report released on Monday, May 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will earn $1.54 per share for the quarter, down from their prior forecast of $1.59. The consensus estimate for Ashland's current full-year earnings is $4.47 per share. Seaport Res Ptn also issued estimates for Ashland's FY2024 earnings at $4.83 EPS, Q2 2025 earnings at $1.65 EPS and Q3 2025 earnings at $1.73 EPS.
ASH has been the subject of a number of other research reports. BMO Capital Markets upped their target price on shares of Ashland from $97.00 to $105.00 and gave the stock a "market perform" rating in a research report on Tuesday. Wells Fargo & Company raised shares of Ashland from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $100.00 to $112.00 in a report on Thursday, April 11th. TheStreet raised Ashland from a "c+" rating to a "b-" rating in a report on Thursday, February 22nd. Mizuho increased their price target on Ashland from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Finally, Wolfe Research started coverage on Ashland in a research note on Friday, March 1st. They issued an "outperform" rating and a $108.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $106.44.
Check Out Our Latest Report on ASH
Ashland Price Performance
ASH stock traded down $0.45 during midday trading on Wednesday, hitting $97.57. The company's stock had a trading volume of 214,918 shares, compared to its average volume of 440,569. The company has a quick ratio of 1.94, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. Ashland has a 12 month low of $70.82 and a 12 month high of $99.55. The company has a 50 day moving average of $95.80 and a two-hundred day moving average of $87.29. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 26.00 and a beta of 0.92.
Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.13. The business had revenue of $575.00 million for the quarter, compared to analysts' expectations of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The business's quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share.
Hedge Funds Weigh In On Ashland
Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Ashland by 139.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,414,765 shares of the basic materials company's stock valued at $115,558,000 after acquiring an additional 824,600 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Ashland by 33.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,260,333 shares of the basic materials company's stock worth $184,624,000 after purchasing an additional 560,916 shares during the period. Franklin Resources Inc. lifted its stake in Ashland by 274.4% in the fourth quarter. Franklin Resources Inc. now owns 495,748 shares of the basic materials company's stock worth $41,797,000 after purchasing an additional 363,328 shares during the last quarter. Atlantic Investment Management Inc. purchased a new position in shares of Ashland during the third quarter valued at approximately $22,880,000. Finally, Clearbridge Investments LLC grew its stake in shares of Ashland by 17.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,656,654 shares of the basic materials company's stock valued at $139,673,000 after buying an additional 252,104 shares during the last quarter. Institutional investors own 93.95% of the company's stock.
About Ashland
(
Get Free Report)
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.
Read More
Before you consider Ashland, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ashland wasn't on the list.
While Ashland currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
