Ashland Global Holdings Inc. (NYSE:ASH) Stock Rating Lowered by BidaskClub

Ashland Global Holdings Inc. (NYSE:ASH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, August 1st.

Several other analysts also recently issued reports on the company. TheStreet upgraded Ashland Global Holdings from a “c” rating to a “b+” rating in a research note on Friday, June 16th. Zacks Investment Research upgraded Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research note on Friday, April 28th. ValuEngine upgraded Ashland Global Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Credit Suisse Group set a $122.00 target price on Ashland Global Holdings and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, J P Morgan Chase & Co increased their target price on Ashland Global Holdings from $61.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $88.33.

Shares of Ashland Global Holdings (ASH) traded down 0.41% during midday trading on Tuesday, reaching $60.82. 1,331,040 shares of the company traded hands. The stock’s market capitalization is $3.80 billion. Ashland Global Holdings has a 1-year low of $51.61 and a 1-year high of $67.90. The stock’s 50-day moving average is $65.25 and its 200-day moving average is $62.33.

Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.13. The company had revenue of $870 million during the quarter, compared to the consensus estimate of $842.78 million. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 EPS. Equities analysts predict that Ashland Global Holdings will post $4.25 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in ASH. Mn Services Vermogensbeheer B.V. raised its position in shares of Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock worth $192,000 after buying an additional 66 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Ashland Global Holdings by 50.2% in the first quarter. Retirement Systems of Alabama now owns 120,623 shares of the basic materials company’s stock worth $14,934,000 after buying an additional 40,334 shares during the last quarter. City Holding Co. raised its position in shares of Ashland Global Holdings by 14.9% in the first quarter. City Holding Co. now owns 1,965 shares of the basic materials company’s stock worth $243,000 after buying an additional 255 shares during the last quarter. Bollard Group LLC raised its position in shares of Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock worth $115,000 after buying an additional 3 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Ashland Global Holdings by 19.7% in the first quarter. Gateway Investment Advisers LLC now owns 85,406 shares of the basic materials company’s stock worth $10,574,000 after buying an additional 14,038 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Ashland Global Holdings Company Profile

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

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