Ashland (NYSE:ASH - Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $50.00 to $53.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's price target suggests a potential upside of 1.84% from the company's previous close.
Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Ashland from $71.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen raised Ashland from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group decreased their price target on Ashland from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, Mizuho set a $60.00 price target on Ashland in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $67.40.
Get Our Latest Stock Report on ASH
Ashland Trading Down 1.8%
Shares of ASH traded down $0.94 during midday trading on Thursday, hitting $52.04. 371,553 shares of the stock were exchanged, compared to its average volume of 659,260. Ashland has a 52-week low of $45.21 and a 52-week high of $98.44. The stock has a fifty day simple moving average of $51.13 and a 200 day simple moving average of $55.77. The firm has a market cap of $2.38 billion, a P/E ratio of -2.78, a P/E/G ratio of 3.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.15 and a current ratio of 2.32.
Ashland (NYSE:ASH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.11). The firm had revenue of $463.00 million for the quarter, compared to analysts' expectations of $479.34 million. Ashland had a positive return on equity of 6.32% and a negative net margin of 46.01%. The company's quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. On average, research analysts anticipate that Ashland will post 4.27 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Abound Wealth Management acquired a new position in Ashland in the 2nd quarter valued at $40,000. Farther Finance Advisors LLC increased its holdings in shares of Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company's stock worth $41,000 after buying an additional 684 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Ashland by 212.4% during the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company's stock worth $42,000 after buying an additional 480 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Ashland by 63.9% during the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company's stock worth $49,000 after buying an additional 325 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Ashland by 285.7% during the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company's stock worth $54,000 after buying an additional 677 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.
Ashland Company Profile
(
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.
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