JPMorgan Chase & Co. Upgrades Ashland (NYSE:ASH) to Overweight

Ashland (NYSE:ASH) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a $71.00 price target on the basic materials company’s stock, up from their previous price target of $68.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.94% from the company’s current price.

Several other research analysts also recently commented on the company. BMO Capital Markets increased their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, UBS Group cut their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Ashland Stock Down 0.0 %

Shares of NYSE ASH opened at $59.69 on Wednesday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -90.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company’s 50-day simple moving average is $62.79 and its 200-day simple moving average is $73.89. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland has a 52-week low of $54.86 and a 52-week high of $102.50.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same period last year, the firm earned $0.45 earnings per share. Equities analysts predict that Ashland will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Guillermo Novo purchased 31,294 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. increased its stake in Ashland by 5.5% during the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Ashland by 6.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 211 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Ashland by 5.7% during the 4th quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 284 shares during the period. Xponance Inc. lifted its position in Ashland by 5.7% in the fourth quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock valued at $401,000 after buying an additional 301 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Ashland by 10.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after buying an additional 317 shares during the period. 93.95% of the stock is currently owned by institutional investors and hedge funds.

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.