Ashland (NYSE:ASH) Cut to Hold at StockNews.com

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

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Ashland from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Wolfe Research started coverage on Ashland in a research note on Friday, March 1st. They issued an “outperform” rating and a $108.00 target price on the stock. UBS Group boosted their price objective on Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upgraded Ashland from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. Finally, BMO Capital Markets upped their price objective 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 given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ashland has a consensus rating of “Moderate Buy” and an average target price of $106.44.

Ashland Trading Up 0.8 %

Shares of NYSE:ASH traded up $0.79 during midday trading on Monday, reaching $97.65. The company’s stock had a trading volume of 423,854 shares, compared to its average volume of 423,355. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 3.15. The firm has a 50 day moving average price of $97.76 and a two-hundred day moving average price of $92.38. Ashland has a fifty-two week low of $70.82 and a fifty-two week high of $102.50.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in shares of Ashland by 4.8% in the third quarter. HighTower Advisors LLC now owns 6,945 shares of the basic materials company’s stock worth $565,000 after buying an additional 321 shares in the last quarter. Citigroup Inc. grew its stake in shares of Ashland by 38.4% in the 3rd quarter. Citigroup Inc. now owns 11,027 shares of the basic materials company’s stock worth $901,000 after buying an additional 3,058 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Ashland by 8.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,279 shares of the basic materials company’s stock valued at $350,000 after buying an additional 328 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ashland by 9.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 37,874 shares of the basic materials company’s stock valued at $3,094,000 after acquiring an additional 3,253 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Ashland in the 3rd quarter valued at about $1,988,000. Institutional investors own 93.95% of the company’s stock.

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.