Ashland (NYSE:ASH) Price Target Lowered to $74.00 at UBS Group

Ashland (NYSE:ASH) had its target price cut by analysts at UBS Group from $85.00 to $74.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential upside of 49.71% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Mizuho set a $60.00 target price on Ashland in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on shares of Ashland from $69.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.40.

Ashland Stock Up 0.8 %

Shares of Ashland stock opened at $49.43 on Thursday. The business has a fifty day simple moving average of $54.57 and a 200 day simple moving average of $67.37. The stock has a market cap of $2.33 billion, a PE ratio of -74.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland has a 12 month low of $45.21 and a 12 month high of $102.50.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.11). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $514.79 million. During the same period last year, the company earned $1.27 earnings per share. The business’s revenue was down 16.7% compared to the same quarter last year. Research analysts predict that Ashland will post 4.27 EPS for the current year.

Hedge Funds Weigh In On Ashland

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in shares of Ashland in the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB bought a new stake in Ashland during the 3rd quarter worth about $38,000. Farther Finance Advisors LLC boosted its stake in shares of Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company’s stock worth $41,000 after buying an additional 684 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Ashland by 212.4% during the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company’s stock worth $42,000 after buying an additional 480 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Ashland by 63.9% in the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 325 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.