Ashland (NYSE:ASH) Price Target Raised to $78.00

Ashland (NYSE:ASH) had its price target boosted by Morgan Stanley from $58.00 to $78.00 in a research note released on Thursday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the basic materials company’s stock.

Several other equities analysts have also issued reports on ASH. Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Wolfe Research reissued an “outperform” rating on shares of Ashland in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $85.00 price objective on shares of Ashland in a research note on Friday, July 31st. UBS Group raised their target price on Ashland from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Seaport Research Partners upgraded Ashland from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.90.

Ashland Trading Up 6.2%

NYSE:ASH opened at $76.92 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 67.47, a price-to-earnings-growth ratio of 1.85 and a beta of 0.40. Ashland has a 52 week low of $46.29 and a 52 week high of $78.25. The firm has a 50-day moving average price of $66.17 and a two-hundred day moving average price of $60.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASH. BlackRock Inc. bought a new position in shares of Ashland during the 2nd quarter worth $376,376,000. AQR Capital Management LLC boosted its position in Ashland by 284.3% during the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock worth $172,318,000 after purchasing an additional 2,555,585 shares during the period. Standard Investments LLC increased its stake in shares of Ashland by 17.2% in the fourth quarter. Standard Investments LLC now owns 2,625,000 shares of the basic materials company’s stock worth $154,009,000 after purchasing an additional 385,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ashland by 12.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,496,021 shares of the basic materials company’s stock worth $138,793,000 after purchasing an additional 267,741 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its position in shares of Ashland by 775.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,900,000 shares of the basic materials company’s stock valued at $111,473,000 after purchasing an additional 1,682,994 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Key Headlines Impacting Ashland

Here are the key news stories impacting Ashland this week:

• Positive Sentiment: Potential takeover interest is the main catalyst. Ashland is reportedly considering a sale after attracting interest from potential buyers. While no transaction has been announced, the possibility of a takeover premium and pressure to improve shareholder returns is supporting the stock. Ashland Said to Explore Sale After Getting Takeover Interest
• Positive Sentiment: Morgan Stanley raised its price target to $78 from $58. The firm maintained an “equal weight” rating, so the increase reflects improved valuation expectations rather than a strongly bullish recommendation. The revised target nevertheless reinforces the market’s more favorable view of Ashland. Ashland Given New $78 Price Target at Morgan Stanley
• Positive Sentiment: Ashland declared a quarterly dividend of $0.42 per share. The dividend is payable September 15 to shareholders of record September 1. The announcement provides continued income support and signals that the company expects to maintain sufficient cash flow for shareholder distributions. Ashland Declares Quarterly Cash Dividend
• Neutral Sentiment: The Texas City plant strike has ended. Workers reportedly secured some gains while accepting concessions. The resolution removes an immediate disruption risk, but higher labor costs or contract concessions could affect margins. Texas City Ashland Plant Strike Ends

About Ashland

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.