Weiss Ratings Reaffirms Sell (D) Rating for Ashland (NYSE:ASH)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Ashland (NYSE: ASH), indicating ongoing concerns about the company's stock performance.
• Multiple brokerages have set different price targets for Ashland, with Argus lowering theirs from $70.00 to $65.00 while Zacks upgraded the rating from "strong sell" to "hold."
• Ashland's stock recently traded up 1.3%, reaching $50.50, amidst mixed analyst ratings and a current consensus rating of "hold" with a price target of approximately $60.43.

Ashland (NYSE:ASH - Get Free Report)'s stock had its "sell (d)" rating reissued by stock analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other brokerages have also issued reports on ASH. Argus cut their price target on Ashland from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company cut their price target on Ashland from $53.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 15th. BMO Capital Markets increased their price target on Ashland from $60.00 to $61.00 and gave the stock a "market perform" rating in a report on Tuesday, September 2nd. Morgan Stanley assumed coverage on Ashland in a report on Monday, September 8th. They issued an "equal weight" rating and a $60.00 price target on the stock. Finally, Zacks Research raised Ashland from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.43.

Ashland Trading Up 1.3%

Shares of Ashland stock traded up $0.63 on Friday, hitting $50.50. 395,692 shares of the company's stock traded hands, compared to its average volume of 643,598. Ashland has a one year low of $45.21 and a one year high of $88.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The company has a fifty day moving average of $51.55 and a two-hundred day moving average of $51.29. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -2.70, a price-to-earnings-growth ratio of 11.39 and a beta of 0.49.

Ashland (NYSE:ASH - Get Free Report) last announced its earnings results on Thursday, June 9th. The basic materials company reported $0.56 EPS for the quarter. Ashland had a positive return on equity of 6.82% and a negative net margin of 46.01%.The company had revenue of $509.00 million for the quarter. Ashland has set its FY 2022 guidance at EPS. As a group, sell-side analysts expect that Ashland will post 4.27 earnings per share for the current year.

Institutional Trading of Ashland

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Ashland by 276.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,392 shares of the basic materials company's stock valued at $735,000 after acquiring an additional 9,100 shares during the last quarter. Private Trust Co. NA increased its position in shares of Ashland by 33.5% during the first quarter. Private Trust Co. NA now owns 1,468 shares of the basic materials company's stock valued at $87,000 after acquiring an additional 368 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ashland during the first quarter valued at approximately $273,000. Amundi increased its position in shares of Ashland by 417,809.1% during the first quarter. Amundi now owns 45,970 shares of the basic materials company's stock valued at $2,726,000 after acquiring an additional 45,959 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Ashland by 13.3% during the first quarter. Vontobel Holding Ltd. now owns 4,012 shares of the basic materials company's stock valued at $238,000 after acquiring an additional 471 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other 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.

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