Ashland Inc. (NYSE:ASH) Stock Has Average Target Price of $73.90

Ashland Inc. (NYSE:ASH) has earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $73.60.

Several research analysts have recently weighed in on the stock. Wolfe Research reissued an “outperform” rating on shares of Ashland in a research report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Ashland from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Zacks Research raised shares of Ashland from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. UBS Group lowered their price objective on shares of Ashland from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on shares of Ashland from $50.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st.

Ashland Price Performance

NYSE ASH opened at $68.69 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.73. Ashland has a 1 year low of $47.12 and a 1 year high of $78.25. The company has a market cap of $3.15 billion, a PE ratio of 60.25, a PEG ratio of 1.76 and a beta of 0.40. The stock’s 50-day moving average price is $71.87 and its two-hundred day moving average price is $63.81.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Ashland’s dividend payout ratio (DPR) is 147.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State of Michigan Retirement System boosted its position in Ashland by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 11,039 shares of the basic materials company’s stock valued at $614,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Ashland by 38.0% during the second quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 277 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Ashland by 3.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,388 shares of the basic materials company’s stock worth $522,000 after acquiring an additional 300 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Ashland by 7.7% during the first quarter. Kestra Advisory Services LLC now owns 4,293 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 306 shares during the period. Finally, Kera Capital Partners Inc. lifted its stake in shares of Ashland by 6.1% during the first quarter. Kera Capital Partners Inc. now owns 8,029 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 463 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

About Ashland

Ashland Inc (NYSE: ASH) is a global specialty materials company that develops and manufactures functional ingredients, additives and other products used in a range of consumer and industrial applications. Its products are designed to improve the performance, appearance, stability and processing characteristics of materials and finished goods.

The company serves markets including pharmaceuticals, personal care, coatings, construction, food and beverage, specialty chemicals and other industrial sectors.