Ashland Inc. (NYSE:ASH – Get Free Report)’s share price reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $80.00 to $82.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ashland traded as high as $79.50 and last traded at $76.4290, with a volume of 441,672 shares. The stock had previously closed at $76.28.
A number of other equities research analysts have also recently commented on the company. Zacks Research upgraded Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings raised Ashland from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. BMO Capital Markets increased their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $85.00 price objective on shares of Ashland in a report on Friday, July 31st. Finally, UBS Group cut their price objective on Ashland from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ashland presently has an average rating of “Moderate Buy” and an average target price of $74.80.
Check Out Our Latest Stock Analysis on Ashland
More Ashland News
Here are the key news stories impacting Ashland this week:
- Positive Sentiment: JPMorgan raised its price target on Ashland from $80 to $82 and maintained an “overweight” rating. The new target implied about 6.9% upside from the quoted $76.71 share price. JPMorgan rating information
- Neutral Sentiment: Ashland forecast fiscal 2027 sales of $1.905 billion to $1.975 billion and adjusted EBITDA of $405 million to $435 million. Planned capital expenditures of up to $140 million could support investment but may also weigh on near-term cash flow. Fiscal 2027 outlook
Institutional Investors Weigh In On Ashland
A number of large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of Ashland by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 19,983 shares of the basic materials company’s stock worth $1,357,000 after acquiring an additional 148 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Ashland by 3.2% in the third quarter. Kestra Advisory Services LLC now owns 5,311 shares of the basic materials company’s stock valued at $361,000 after acquiring an additional 163 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Ashland by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 11,039 shares of the basic materials company’s stock valued at $614,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC lifted its stake in Ashland by 20.0% in the third quarter. GAMMA Investing LLC now owns 1,206 shares of the basic materials company’s stock valued at $82,000 after buying an additional 201 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Ashland by 7.6% in the third quarter. Evergreen Capital Management LLC now owns 3,568 shares of the basic materials company’s stock valued at $242,000 after buying an additional 253 shares during the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.
Ashland Price Performance
The company has a quick ratio of 1.89, a current ratio of 2.96 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 957.42, a P/E/G ratio of 1.95 and a beta of 0.36. The company has a fifty day moving average price of $71.58 and a two-hundred day moving average price of $64.09.
Ashland (NYSE:ASH – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.15). Ashland had a net margin of 0.21% and a return on equity of 8.17%. The firm had revenue of $996.00 million during the quarter, compared to analyst estimates of $501.76 million. During the same quarter in the previous year, the business earned $1.08 EPS. Ashland’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Ashland Inc. will post 4.21 EPS for the current fiscal year.
About Ashland
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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