Ashland (NYSE:ASH) Given New $105.00 Price Target at BMO Capital Markets

Ashland (NYSE:ASH - Free Report) had its price objective lifted by BMO Capital Markets from $97.00 to $105.00 in a report published on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company's stock.

A number of other research firms have also weighed in on ASH. Jefferies Financial Group raised Ashland from a hold rating to a buy rating and increased their price objective for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. Wells Fargo & Company raised 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 research note on Thursday, April 11th. UBS Group increased their price objective on Ashland from $114.00 to $116.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Mizuho increased their price objective on Ashland from $101.00 to $110.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, TheStreet raised Ashland from a c+ rating to a b- rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $106.44.

Ashland Price Performance

NYSE ASH traded up $0.68 on Tuesday, reaching $98.02. 357,005 shares of the company's stock traded hands, compared to its average volume of 443,137. Ashland has a 12 month low of $70.82 and a 12 month high of $99.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94. The stock has a 50-day simple moving average of $95.70 and a 200 day simple moving average of $87.14. The stock has a market cap of $4.91 billion, a PE ratio of 26.06 and a beta of 0.92.

Ashland (NYSE:ASH - Get Free Report) last issued 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. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The business had revenue of $575.00 million for the quarter, compared to analysts' expectations of $574.64 million. During the same period last year, the business earned $1.43 earnings per share. The business's quarterly revenue was down 4.6% on a year-over-year basis. As a group, research analysts predict that Ashland will post 4.47 earnings per share for the current year.

Hedge Funds Weigh In On Ashland

Several institutional investors and hedge funds have recently modified their holdings of ASH. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Ashland by 17.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,592 shares of the basic materials company's stock valued at $375,000 after acquiring an additional 682 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Ashland by 4.7% during the third quarter. Raymond James & Associates now owns 6,576 shares of the basic materials company's stock valued at $537,000 after acquiring an additional 294 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ashland by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,914 shares of the basic materials company's stock valued at $810,000 after acquiring an additional 1,139 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Ashland by 24.0% during the third quarter. Chicago Partners Investment Group LLC now owns 2,822 shares of the basic materials company's stock valued at $213,000 after acquiring an additional 546 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Ashland by 2.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,407 shares of the basic materials company's stock worth $1,177,000 after buying an additional 400 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.