Ashland (NYSE:ASH) Upgraded at StockNews.com

Ashland (NYSE:ASH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

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

Ashland Trading Down 2.0 %

ASH stock traded down $1.73 during midday trading on Thursday, hitting $86.26. The company had a trading volume of 330,842 shares, compared to its average volume of 412,549. The stock’s 50 day moving average price is $90.83 and its 200 day moving average price is $94.60. Ashland has a 52 week low of $70.82 and a 52 week high of $102.50. 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 cap of $4.32 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.10 and a beta of 0.88.

Ashland (NYSE:ASH) last issued 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. Ashland had a return on equity of 5.98% and a net margin of 7.01%. The firm had revenue of $544.00 million for the quarter, compared to analysts’ expectations of $577.08 million. During the same period in the previous year, the firm posted $1.23 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Ashland will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ashland

Several institutional investors and hedge funds have recently bought and sold shares of ASH. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 153 shares during the period. CWM LLC lifted its holdings in shares of Ashland by 163.7% during the fourth quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Ashland in the 4th quarter worth $67,000. Quadrant Capital Group LLC grew its holdings in shares of Ashland by 143.7% during the 4th quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 477 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Ashland during the 2nd quarter valued at about $71,000. Institutional investors and hedge funds 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.