Zacks Investment Research upgraded shares of Ashland Global (NYSE:ASH) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. They currently have $85.00 target price on the basic materials company’s stock.
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. “
ASH has been the topic of several other reports. JPMorgan Chase & Co. cut shares of Ashland Global from an overweight rating to a neutral rating and set a $82.00 price target on the stock. in a research report on Friday, June 14th. They noted that the move was a valuation call. Buckingham Research boosted their price target on shares of Ashland Global from $75.00 to $85.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. SunTrust Banks dropped their price target on shares of Ashland Global from $95.00 to $87.00 and set a buy rating on the stock in a research report on Wednesday, August 28th. They noted that the move was a valuation call. TheStreet cut shares of Ashland Global from a b rating to a c rating in a research report on Monday, June 10th. Finally, Credit Suisse Group set a $92.00 price target on shares of Ashland Global and gave the stock a buy rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Ashland Global currently has a consensus rating of Buy and a consensus target price of $86.83.
Shares of Ashland Global stock opened at $76.77 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $75.09 and its two-hundred day moving average price is $76.57. Ashland Global has a 52 week low of $64.93 and a 52 week high of $84.81. The stock has a market cap of $4.53 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27.
Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. The firm had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $640.29 million. During the same period in the previous year, the business earned $0.77 earnings per share. Ashland Global’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts predict that Ashland Global will post 2.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Friday, August 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.43%. Ashland Global’s dividend payout ratio is currently 30.73%.
A number of institutional investors and hedge funds have recently modified their holdings of ASH. Eminence Capital LP purchased a new position in Ashland Global in the 2nd quarter worth about $413,763,000. Diamond Hill Capital Management Inc. purchased a new position in Ashland Global in the 2nd quarter worth about $110,163,000. Nuveen Asset Management LLC purchased a new position in Ashland Global in the 2nd quarter worth about $58,567,000. Invesco Ltd. increased its stake in Ashland Global by 539.5% in the 2nd quarter. Invesco Ltd. now owns 492,965 shares of the basic materials company’s stock worth $39,423,000 after purchasing an additional 415,881 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its stake in Ashland Global by 179.2% in the 1st quarter. Marshall Wace North America L.P. now owns 457,012 shares of the basic materials company’s stock worth $35,706,000 after purchasing an additional 293,352 shares in the last quarter. 95.93% of the stock is currently owned by hedge funds and other institutional investors.
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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