Ashland Global (NYSE:ASH) Stock Rating Lowered by JPMorgan Chase & Co.

Ashland Global (NYSE:ASH) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports. The analysts noted that the move was a valuation call.

A number of other brokerages also recently commented on ASH. TheStreet downgraded shares of Ashland Global from a “b” rating to a “c” rating in a report on Monday. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th. Finally, Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.15.

Shares of Ashland Global stock opened at $80.09 on Friday. The stock has a market cap of $4.98 billion, a PE ratio of 22.37, a PEG ratio of 2.67 and a beta of 1.27. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68. Ashland Global has a twelve month low of $64.93 and a twelve month high of $86.63.

Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The firm had revenue of $667.00 million during the quarter, compared to the consensus estimate of $680.96 million. During the same quarter last year, the firm earned $1.06 EPS. The firm’s revenue for the quarter was down 31.5% compared to the same quarter last year. Analysts anticipate that Ashland Global will post 2.98 earnings per share for the current fiscal year.

In other Ashland Global news, insider Peter Ganz sold 1,562 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $74.32, for a total value of $116,087.84. Following the completion of the sale, the insider now owns 40,150 shares of the company’s stock, valued at $2,983,948. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Heitman sold 6,300 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $79.46, for a total transaction of $500,598.00. Following the completion of the sale, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $500,836.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,065 shares of company stock valued at $1,189,252. 1.14% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Utah Retirement Systems lifted its stake in Ashland Global by 1.4% in the first quarter. Utah Retirement Systems now owns 11,726 shares of the basic materials company’s stock worth $916,000 after purchasing an additional 166 shares during the last quarter. Alpha Windward LLC lifted its stake in Ashland Global by 3.0% in the first quarter. Alpha Windward LLC now owns 6,279 shares of the basic materials company’s stock worth $491,000 after purchasing an additional 180 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Ashland Global by 36.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 182 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Ashland Global by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the basic materials company’s stock worth $1,313,000 after purchasing an additional 200 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Ashland Global by 2.2% in the fourth quarter. Bank of Montreal Can now owns 9,336 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 202 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Ashland Global Company Profile

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.

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Analyst Recommendations for Ashland Global (NYSE:ASH)

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