StockNews.com Lowers Ashland (NYSE:ASH) to Hold

Ashland (NYSE:ASH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other research firms have also issued reports on ASH. UBS Group increased their price target on shares of Ashland from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upgraded shares of Ashland from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $112.00 in a research report on Thursday, April 11th. Mizuho increased their target price on shares of Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wolfe Research began coverage on Ashland in a report on Friday, March 1st. They issued an “outperform” rating and a $108.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Ashland from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.44.

Ashland Stock Performance

Shares of ASH opened at $99.61 on Tuesday. The firm has a 50-day moving average of $96.54 and a 200-day moving average of $88.97. Ashland has a one year low of $70.82 and a one year high of $100.99. The company has a market cap of $4.99 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94.

Ashland (NYSE:ASH) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.13. The business had revenue of $575.00 million during the quarter, compared to analysts’ expectations of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. As a group, equities analysts forecast that Ashland will post 4.47 earnings per share for the current year.

Institutional Investors Weigh In On Ashland

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 153 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Ashland in the 4th quarter worth approximately $28,000. Hexagon Capital Partners LLC raised its position in Ashland by 143.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 223 shares during the period. Covestor Ltd boosted its stake in shares of Ashland by 338.0% during the third quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 311 shares during the period. Finally, CWM LLC grew its position in shares of Ashland by 163.7% in the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares during 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.