Ashland Global (NYSE:ASH) had its target price increased by Monness Crespi & Hardt from $80.00 to $88.00 in a report published on Thursday, The Fly reports. Monness Crespi & Hardt currently has a buy rating on the basic materials company’s stock.
A number of other analysts also recently commented on the stock. UBS Group increased their price objective on shares of Ashland Global from $71.00 to $78.00 and gave the company a buy rating in a report on Thursday, July 9th. TheStreet upgraded shares of Ashland Global from a d+ rating to a c- rating in a report on Thursday, June 18th. BMO Capital Markets upgraded shares of Ashland Global from a market perform rating to an outperform rating and dropped their target price for the company from $87.00 to $75.00 in a report on Monday, April 13th. SunTrust Banks lifted their target price on shares of Ashland Global from $75.00 to $87.00 and gave the company a buy rating in a report on Monday, July 20th. Finally, Wells Fargo & Co lifted their target price on shares of Ashland Global from $75.00 to $80.00 and gave the company an overweight rating in a report on Wednesday, June 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Ashland Global currently has an average rating of Buy and a consensus price target of $82.60.
Shares of Ashland Global stock opened at $75.48 on Thursday. The firm has a market capitalization of $4.55 billion, a PE ratio of -42.89, a P/E/G ratio of 2.76 and a beta of 1.46. Ashland Global has a twelve month low of $38.88 and a twelve month high of $81.82. The firm’s 50-day moving average price is $70.93 and its 200 day moving average price is $66.29. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.56.
Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). The business had revenue of $574.00 million during the quarter, compared to analyst estimates of $574.61 million. Ashland Global had a negative net margin of 4.39% and a positive return on equity of 4.79%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. On average, sell-side analysts predict that Ashland Global will post 2.54 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Eudaimonia Partners LLC purchased a new position in Ashland Global in the 1st quarter valued at approximately $25,000. CWM Advisors LLC purchased a new position in Ashland Global in the 1st quarter valued at approximately $31,000. Synovus Financial Corp purchased a new position in Ashland Global in the 1st quarter valued at approximately $40,000. Rockefeller Capital Management L.P. purchased a new position in Ashland Global in the 1st quarter valued at approximately $44,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Ashland Global by 180.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,073 shares of the basic materials company’s stock valued at $54,000 after buying an additional 691 shares during the period. 92.51% of the stock is owned by institutional investors.
About Ashland Global
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.
Further Reading: Gross Domestic Product (GDP)
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