Ashland (NYSE:ASH) Price Target Raised to $90.00

Ashland (NYSE:ASH - Free Report) had its target price upped by JPMorgan Chase & Co. from $88.00 to $90.00 in a report released on Thursday, Benzinga reports. The firm currently has an underweight rating on the basic materials company's stock.

Several other research analysts have also recently issued reports on ASH. StockNews.com upgraded shares of Ashland from a sell rating to a hold rating in a report on Wednesday, January 31st. Wells Fargo & Company upgraded shares of Ashland from an equal weight rating to an overweight rating and raised their target price for the stock from $100.00 to $112.00 in a report on Thursday, April 11th. UBS Group raised their target price on shares of Ashland from $114.00 to $116.00 and gave the stock a buy rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Ashland from a hold rating to a buy rating and raised their target price for the stock from $100.00 to $126.00 in a report on Thursday, March 14th. Finally, Wolfe Research assumed coverage on shares of Ashland in a report on Friday, March 1st. They set an outperform rating and a $108.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $103.11.

Ashland Stock Performance

ASH traded up $1.29 on Thursday, hitting $95.79. 367,716 shares of the company's stock were exchanged, compared to its average volume of 448,797. The firm has a market cap of $4.80 billion, a PE ratio of 25.26 and a beta of 0.92. Ashland has a twelve month low of $70.82 and a twelve month high of $99.55. The stock has a fifty day moving average of $95.54 and a two-hundred day moving average of $86.66. The company has a current ratio of 3.30, a quick ratio of 1.88 and a debt-to-equity ratio of 0.44.

Ashland (NYSE:ASH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.13. The business had revenue of $575.00 million during the quarter, compared to analysts' expectations of $574.64 million. Ashland had a net margin of 9.09% and a return on equity of 5.59%. The business's revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. On average, research analysts anticipate that Ashland will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASH. GAMMA Investing LLC grew its position in Ashland by 122.4% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company's stock worth $27,000 after purchasing an additional 153 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Ashland in the 4th quarter worth $28,000. Hexagon Capital Partners LLC grew its position in Ashland by 143.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company's stock worth $32,000 after purchasing an additional 223 shares during the last quarter. Covestor Ltd grew its position in Ashland by 338.0% in the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company's stock worth $33,000 after purchasing an additional 311 shares during the last quarter. Finally, CWM LLC grew its position in Ashland by 163.7% in the 4th quarter. CWM LLC now owns 559 shares of the basic materials company's stock worth $47,000 after purchasing an additional 347 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.