UBS Group Lowers Ashland (NYSE:ASH) Price Target to $64.00

Key Points

• UBS Group has lowered its price target for Ashland (NYSE:ASH) from $73.00 to $64.00, though they maintain a "buy" rating, indicating a potential upside of 21.29% from the previous close.
• Other analysts have also adjusted their price targets, with JPMorgan reducing it to $67.00 and Mizuho setting a target of $60.00, while the average rating for Ashland remains at "Hold".
• Ashland reported an earnings miss for the last quarter, with a revenue of $463 million, down 14.9% year-over-year, and an EPS of $1.04, falling short of expectations of $1.15.

Ashland (NYSE:ASH - Get Free Report) had its price target decreased by research analysts at UBS Group from $73.00 to $64.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. UBS Group's price objective indicates a potential upside of 21.29% from the company's previous close.

Several other equities analysts have also commented on ASH. JPMorgan Chase & Co. lowered their price target on shares of Ashland from $71.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Ashland from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Mizuho set a $60.00 price target on shares of Ashland in a report on Tuesday, April 15th. Finally, Wells Fargo & Company upped their price target on shares of Ashland from $50.00 to $53.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.60.

Ashland Trading Up 2.2%

Shares of NYSE ASH traded up $1.13 during midday trading on Thursday, reaching $52.76. 250,532 shares of the stock were exchanged, compared to its average volume of 663,938. The stock has a 50 day moving average price of $51.28 and a 200-day moving average price of $55.12. The company has a current ratio of 2.68, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. Ashland has a 52-week low of $45.21 and a 52-week high of $90.61. The company has a market capitalization of $2.41 billion, a P/E ratio of -2.81, a P/E/G ratio of 3.73 and a beta of 0.49.

Ashland (NYSE:ASH - Get Free Report) last posted its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.11). Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%. The firm had revenue of $463.00 million for the quarter, compared to analyst estimates of $479.34 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The company's revenue for the quarter was down 14.9% on a year-over-year basis. Equities research analysts expect that Ashland will post 4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ashland

A number of large investors have recently made changes to their positions in ASH. LPL Financial LLC grew its holdings in Ashland by 12.5% during the fourth quarter. LPL Financial LLC now owns 31,799 shares of the basic materials company's stock valued at $2,272,000 after purchasing an additional 3,541 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Ashland by 3.0% in the fourth quarter. Russell Investments Group Ltd. now owns 270,029 shares of the basic materials company's stock valued at $19,296,000 after acquiring an additional 7,829 shares during the period. Cerity Partners LLC boosted its position in shares of Ashland by 30.3% in the fourth quarter. Cerity Partners LLC now owns 10,465 shares of the basic materials company's stock valued at $748,000 after acquiring an additional 2,431 shares during the period. Invesco Ltd. boosted its position in shares of Ashland by 6.4% in the fourth quarter. Invesco Ltd. now owns 379,113 shares of the basic materials company's stock valued at $27,091,000 after acquiring an additional 22,876 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Ashland by 94.5% in the fourth quarter. Renaissance Technologies LLC now owns 91,775 shares of the basic materials company's stock valued at $6,558,000 after acquiring an additional 44,600 shares during the period. Institutional investors and hedge funds own 93.95% of the company's stock.

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.

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