Ashland (NYSE:ASH) Given New $110.00 Price Target at Mizuho

Ashland (NYSE:ASH) had its price target lifted by Mizuho from $101.00 to $110.00 in a report published on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the basic materials company’s stock.

ASH has been the topic of several other research reports. Wolfe Research assumed coverage on shares of Ashland in a report on Friday, March 1st. They issued an outperform rating and a $108.00 target price on the stock. StockNews.com upgraded shares of Ashland from a sell rating to a hold rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Ashland from $70.00 to $88.00 and gave the stock an underweight rating in a report on Thursday, February 1st. 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, Wells Fargo & Company upgraded shares of Ashland from an equal weight rating to an overweight rating and lifted their price target for the stock from $100.00 to $112.00 in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $102.89.

Ashland Price Performance

Shares of ASH opened at $94.50 on Wednesday. The company has a market capitalization of $4.73 billion, a P/E ratio of 30.98 and a beta of 0.92. The company has a quick ratio of 1.88, a current ratio of 3.30 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $95.49 and a 200 day moving average of $86.60. Ashland has a twelve month low of $70.82 and a twelve month high of $100.35.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.13. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The company had revenue of $575.00 million during the quarter, compared to the consensus estimate of $574.64 million. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Ashland will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after buying an additional 153 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Ashland during the 4th quarter valued at $28,000. Hexagon Capital Partners LLC lifted its stake in shares of Ashland by 143.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock valued at $32,000 after buying an additional 223 shares in the last quarter. Covestor Ltd lifted its stake in shares of Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after buying an additional 311 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Ashland by 163.7% during the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.