Ashland Inc. (NYSE:ASH) Receives $73.90 Average PT from Analysts

Ashland Inc. (NYSE:ASHGet Free Report) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $73.90.

A number of equities analysts have weighed in on ASH shares. Mizuho raised their target price on shares of Ashland from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Ashland from $50.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $85.00 price target on shares of Ashland in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Ashland from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, UBS Group lifted their price objective on Ashland from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

View Our Latest Stock Analysis on Ashland

Ashland Stock Down 0.0%

Shares of Ashland stock opened at $73.69 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.05 and a quick ratio of 1.89. The company has a 50-day moving average of $67.88 and a 200 day moving average of $60.89. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 64.64, a PEG ratio of 1.78 and a beta of 0.40. Ashland has a 1 year low of $46.29 and a 1 year high of $78.25.

Ashland Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Ashland’s payout ratio is currently 147.37%.

Institutional Trading of Ashland

Several institutional investors have recently bought and sold shares of ASH. Jupiter Topco LLC purchased a new stake in Ashland during the 2nd quarter valued at about $1,206,000. Ancora Advisors LLC purchased a new position in Ashland in the second quarter worth about $128,183,000. Canada Pension Plan Investment Board purchased a new position in Ashland in the second quarter worth about $507,000. Legal & General Group Plc bought a new position in shares of Ashland in the second quarter worth approximately $4,309,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Ashland during the second quarter valued at approximately $2,769,000. 93.95% of the stock is owned by hedge funds and other institutional investors.

Ashland Company Profile

(Get Free Report)

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.

Further Reading

Analyst Recommendations for Ashland (NYSE:ASH)

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