StockNews.com Lowers Ashland (NYSE:ASH) to Hold

Ashland (NYSE:ASH) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

ASH has been the subject of several other reports. Mizuho upped their target price on Ashland from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Wolfe Research began coverage on Ashland in a report on Friday, March 1st. They set an “outperform” rating and a $108.00 price target for the company. JPMorgan Chase & Co. increased their price target on Ashland from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded Ashland from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $112.00 in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on Ashland from $97.00 to $105.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ashland presently has a consensus rating of “Moderate Buy” and an average target price of $106.44.

Ashland Stock Down 2.5 %

Shares of NYSE:ASH opened at $95.23 on Monday. The company has a quick ratio of 1.94, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $97.78 and a two-hundred day moving average of $92.47. The stock has a market cap of $4.77 billion, a P/E ratio of 25.26, a PEG ratio of 0.95 and a beta of 0.92. Ashland has a 52-week low of $70.82 and a 52-week high of $102.50.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.13. The company had revenue of $575.00 million during the quarter, compared to analysts’ expectations of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. On average, research analysts expect that Ashland will post 4.47 earnings per share for the current year.

Institutional Investors Weigh In On Ashland

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in Ashland by 167.8% during the 4th quarter. Nordea Investment Management AB now owns 107,813 shares of the basic materials company’s stock worth $9,070,000 after buying an additional 67,556 shares during the last quarter. Raymond James & Associates grew its stake in Ashland by 696.4% during the 4th quarter. Raymond James & Associates now owns 52,372 shares of the basic materials company’s stock worth $4,415,000 after buying an additional 45,796 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Ashland by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,671,593 shares of the basic materials company’s stock worth $140,932,000 after buying an additional 256,828 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Ashland during the 1st quarter worth approximately $3,480,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Ashland by 7.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,424,801 shares of the basic materials company’s stock worth $204,435,000 after buying an additional 164,468 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.