Zacks Investment Research downgraded shares of Ashland Global Holdings Inc. (NYSE:ASH) from a buy rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “
A number of other equities analysts also recently issued reports on ASH. Credit Suisse Group AG lifted their price target on Ashland Global Holdings from $65.00 to $69.00 and gave the company a neutral rating in a research note on Wednesday, November 8th. Deutsche Bank AG cut their price target on Ashland Global Holdings from $75.00 to $74.00 and set a buy rating for the company in a research note on Thursday, August 3rd. BidaskClub downgraded Ashland Global Holdings from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a buy rating and set a $74.00 price target on shares of Ashland Global Holdings in a research note on Sunday, September 3rd. Finally, UBS AG lifted their price target on Ashland Global Holdings from $74.00 to $78.00 and gave the company a buy rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $81.29.
Shares of Ashland Global Holdings (NYSE ASH) traded up $1.09 during trading on Monday, reaching $67.10. The company had a trading volume of 628,600 shares, compared to its average volume of 905,355. Ashland Global Holdings has a twelve month low of $53.41 and a twelve month high of $69.33. The company has a market cap of $4,190.00, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31.
Ashland Global Holdings (NYSE:ASH) last issued its earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The firm had revenue of $880.00 million during the quarter, compared to the consensus estimate of $869.62 million. During the same period in the previous year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. sell-side analysts predict that Ashland Global Holdings will post 3.43 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in ASH. Evercore Trust Company N.A. boosted its stake in shares of Ashland Global Holdings by 113.3% in the 2nd quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock worth $143,580,000 after buying an additional 1,157,131 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ashland Global Holdings in the 2nd quarter worth approximately $54,562,000. Ameriprise Financial Inc. boosted its stake in shares of Ashland Global Holdings by 325.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 842,988 shares of the basic materials company’s stock worth $55,559,000 after buying an additional 644,983 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Ashland Global Holdings by 132.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,119,235 shares of the basic materials company’s stock worth $73,814,000 after buying an additional 638,040 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Ashland Global Holdings in the 2nd quarter worth approximately $38,765,000. Hedge funds and other institutional investors own 94.23% of the company’s stock.
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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