StockNews.com Upgrades Ashland (NYSE:ASH) to Buy

Ashland (NYSE:ASH) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other brokerages have also recently issued reports on ASH. JPMorgan Chase & Co. upgraded shares of Ashland from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $89.00 in a report on Thursday, August 8th. UBS Group reduced their price objective on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. BMO Capital Markets reduced their price objective on shares of Ashland from $105.00 to $92.00 and set a “market perform” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Ashland from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.50.

Ashland Trading Down 1.5 %

NYSE:ASH opened at $85.01 on Thursday. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.10 and a beta of 0.88. The firm has a fifty day simple moving average of $90.64 and a two-hundred day simple moving average of $94.55. Ashland has a 12 month low of $70.82 and a 12 month high of $102.50.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $544.00 million during the quarter, compared to analysts’ expectations of $577.08 million. Ashland had a net margin of 7.01% and a return on equity of 5.98%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Analysts expect that Ashland will post 4.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASH. GAMMA Investing LLC raised its position in Ashland by 122.4% in the first quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 153 shares during the period. CWM LLC raised its position in Ashland by 163.7% in the fourth quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Ashland in the fourth quarter valued at approximately $67,000. Quadrant Capital Group LLC raised its position in shares of Ashland by 143.7% in the fourth quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 477 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Ashland in the second quarter valued at approximately $71,000. 93.95% of the stock is owned by institutional investors.

About Ashland

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.