Ashland Global (NYSE:ASH) had its target price increased by stock analysts at Deutsche Bank from $96.00 to $100.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank’s target price would indicate a potential upside of 21.51% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Ashland Global from a “sell” rating to a “hold” rating and set a $91.00 target price on the stock in a research report on Monday, November 12th. TheStreet cut shares of Ashland Global from a “b” rating to a “c+” rating in a report on Wednesday, November 7th. Credit Suisse Group lifted their price target on shares of Ashland Global from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. UBS Group lifted their price target on shares of Ashland Global from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ashland Global from $81.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Ashland Global has a consensus rating of “Buy” and a consensus price target of $92.50.
Ashland Global stock opened at $82.30 on Friday. Ashland Global has a 52 week low of $64.81 and a 52 week high of $86.63. The company has a current ratio of 1.59, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.91 and a beta of 1.28.
Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. The firm had revenue of $956.00 million for the quarter, compared to analysts’ expectations of $926.50 million. During the same quarter last year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ashland Global will post 4.32 earnings per share for the current fiscal year.
In related news, VP Keith C. Silverman sold 2,286 shares of Ashland Global stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the sale, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.
A number of hedge funds have recently modified their holdings of ASH. Point72 Hong Kong Ltd bought a new stake in Ashland Global during the 3rd quarter valued at $138,000. Brown Advisory Inc. bought a new stake in Ashland Global during the 2nd quarter valued at $200,000. Creative Planning bought a new stake in Ashland Global during the 3rd quarter valued at $206,000. Commerce Bank bought a new stake in Ashland Global during the 3rd quarter valued at $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Ashland Global during the 2nd quarter valued at $221,000. 94.04% 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. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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