Ashland Global (NYSE:ASH) had its price target upped by research analysts at BMO Capital Markets from $81.00 to $87.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 7.00% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Buckingham Research cut their price target on shares of Ashland Global from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. ValuEngine lowered shares of Ashland Global from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Zacks Investment Research raised shares of Ashland Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered shares of Ashland Global from a “neutral” rating to an “underweight” rating and cut their price target for the company from $74.00 to $68.00 in a research note on Wednesday, January 29th. Finally, UBS Group lifted their price target on shares of Ashland Global from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Ashland Global presently has an average rating of “Buy” and an average price target of $85.00.
Shares of ASH opened at $81.31 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.95. Ashland Global has a twelve month low of $70.50 and a twelve month high of $81.82. The firm’s 50 day moving average price is $76.36 and its two-hundred day moving average price is $75.76. The firm has a market cap of $4.86 billion, a P/E ratio of 8.58, a PEG ratio of 3.41 and a beta of 1.26.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Ashland Global had a net margin of 23.88% and a return on equity of 4.50%. The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $534.68 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was down 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Ashland Global will post 2.84 earnings per share for the current fiscal year.
In other Ashland Global news, CEO Guillermo Novo acquired 12,900 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were acquired at an average price of $78.96 per share, with a total value of $1,018,584.00. Also, insider William J. Heitman sold 509 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $78.99, for a total transaction of $40,205.91. Following the completion of the sale, the insider now directly owns 6,594 shares in the company, valued at approximately $520,860.06. The disclosure for this sale can be found here. In the last three months, insiders sold 3,982 shares of company stock worth $314,538. 9.33% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. lifted its position in shares of Ashland Global by 19.6% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,802,740 shares of the basic materials company’s stock worth $137,964,000 after purchasing an additional 295,252 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Ashland Global by 8.7% during the third quarter. Wedge Capital Management L L P NC now owns 1,588,305 shares of the basic materials company’s stock worth $122,379,000 after acquiring an additional 126,472 shares in the last quarter. Schroder Investment Management Group raised its position in Ashland Global by 14.5% during the fourth quarter. Schroder Investment Management Group now owns 1,236,266 shares of the basic materials company’s stock worth $94,611,000 after acquiring an additional 156,297 shares in the last quarter. FMR LLC raised its position in Ashland Global by 9.2% during the fourth quarter. FMR LLC now owns 1,190,497 shares of the basic materials company’s stock worth $91,109,000 after acquiring an additional 99,992 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Ashland Global by 5.8% during the fourth quarter. Pictet Asset Management Ltd. now owns 1,078,516 shares of the basic materials company’s stock worth $82,539,000 after acquiring an additional 59,058 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Ashland Global Company Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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