Jefferies Group LLC Reiterates “Buy” Rating for Ashland Global Holdings Inc. (NYSE:ASH)

Ashland Global Holdings Inc. (NYSE:ASH)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a note issued to investors on Sunday, July 30th. They presently have a $74.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 21.67% from the stock’s previous close.

A number of other analysts also recently issued reports on ASH. Zacks Investment Research downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet raised Ashland Global Holdings from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. BidaskClub downgraded Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $65.00 target price (up previously from $59.69) on shares of Ashland Global Holdings in a research report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $88.33.

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

Ashland Global Holdings (NYSE:ASH) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.13. The business had revenue of $870 million for 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%. Ashland Global Holdings’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 earnings per share. On average, equities analysts predict that Ashland Global Holdings will post $4.25 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. increased 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 period. Retirement Systems of Alabama increased 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 period. City Holding Co. increased 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 period. Bollard Group LLC increased 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 period. Finally, Gateway Investment Advisers LLC increased 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 period. 90.05% of the stock is currently 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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