Ashland (NYSE:ASH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ashland (NYSE:ASH – Get Free Report) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $80.00 to $82.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.39% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Ashland from $58.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings upgraded Ashland from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Wells Fargo & Company set a $75.00 price target on Ashland in a research note on Friday, October 16th. Finally, BMO Capital Markets increased their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ashland has a consensus rating of “Moderate Buy” and a consensus target price of $74.80.

Read Our Latest Research Report on ASH

Ashland Stock Performance

NYSE ASH traded down $0.08 during trading on Thursday, reaching $76.36. The company’s stock had a trading volume of 1,264,308 shares, compared to its average volume of 770,582. The business’s fifty day moving average price is $71.54 and its 200-day moving average price is $64.03. Ashland has a twelve month low of $48.00 and a twelve month high of $78.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 954.46, a P/E/G ratio of 1.86 and a beta of 0.36.

Ashland (NYSE:ASH – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.15). Ashland had a return on equity of 8.14% and a net margin of 0.21%. The business had revenue of $996.00 million for the quarter, compared to analyst estimates of $501.76 million. During the same quarter last year, the company posted $1.08 EPS. Ashland’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts anticipate that Ashland will post 4.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Ashland

Hedge funds have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP acquired a new stake in shares of Ashland in the 3rd quarter worth approximately $68,000. Ethic Inc. increased its stake in Ashland by 13.0% in the 3rd quarter. Ethic Inc. now owns 5,542 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 639 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Ashland by 3.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 5,311 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 163 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Ashland by 0.7% during the third quarter. Commonwealth Equity Services LLC now owns 19,983 shares of the basic materials company’s stock worth $1,357,000 after purchasing an additional 148 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in Ashland by 66.2% during the third quarter. Chicago Partners Investment Group LLC now owns 7,937 shares of the basic materials company’s stock worth $579,000 after purchasing an additional 3,161 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Key Ashland News

Here are the key news stories impacting Ashland this week:

About Ashland

(Get Free Report)

Ashland Inc is a global specialty materials company that develops and supplies functional ingredients, additives and solutions for industrial and consumer markets. Its products are used to enhance the performance, stability, texture, appearance and processing of finished goods.

The company serves a range of industries, including pharmaceuticals, personal care, coatings, construction, food and beverages, adhesives and specialty chemicals. Its portfolio includes polymers, cellulose-based ingredients, rheology modifiers, film-forming agents, preservatives and other specialty additives used in applications such as drug delivery, skin and hair care, architectural coatings and building materials.

Ashland traces its roots to 1924, when it was established as Ashland Refining Company in Kentucky.

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