Ashland (NYSE:ASH) Price Target Raised to $84.00

Ashland (NYSE:ASH) had its target price upped by BMO Capital Markets from $83.00 to $84.00 in a research report released on Wednesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Several other research firms have also commented on ASH. Wells Fargo & Company lowered their price target on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group cut their price target on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Ashland presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Ashland Stock Up 0.9 %

ASH opened at $74.78 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.15 and a beta of 0.86. Ashland has a one year low of $72.83 and a one year high of $102.50. The business’s fifty day moving average is $81.36 and its two-hundred day moving average is $88.03.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a return on equity of 7.43% and a net margin of 7.95%. The business had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $524.07 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Ashland’s quarterly revenue was up .8% on a year-over-year basis. Analysts anticipate that Ashland will post 4.52 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.62 annualized dividend and a yield of 2.17%. Ashland’s dividend payout ratio (DPR) is presently 48.36%.

Insider Transactions at Ashland

In related news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of Ashland stock in a transaction on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASH. Equitable Trust Co. increased its stake in Ashland by 2.2% during the third quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after acquiring an additional 141 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Ashland by 2.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,295 shares of the basic materials company’s stock worth $681,000 after purchasing an additional 149 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after buying an additional 163 shares during the period. Creative Planning lifted its position in Ashland by 3.8% during the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock valued at $460,000 after buying an additional 176 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Ashland by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after buying an additional 182 shares during the period. 93.95% of the stock is owned by hedge funds and other institutional investors.

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.