Ashland (NYSE:ASH) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Ashland (NYSE:ASH) from a hold rating to a buy rating in a research report released on Thursday.

Other analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Ashland from $112.00 to $100.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Ashland from an underweight rating to a neutral rating and lowered their price target for the company from $90.00 to $89.00 in a report on Thursday, August 8th. BMO Capital Markets dropped their price objective on shares of Ashland from $105.00 to $92.00 and set a market perform rating for the company in a research note on Friday, August 9th. Finally, UBS Group decreased their target price on shares of Ashland from $116.00 to $107.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $103.50.

Ashland Stock Performance

Shares of ASH opened at $85.01 on Thursday. The company has a market capitalization of $4.26 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.98 and a quick ratio of 1.84. Ashland has a one year low of $70.82 and a one year high of $102.50. The company’s fifty day moving average price is $90.64 and its 200 day moving average price is $94.56.

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

Ashland Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. Ashland’s dividend payout ratio (DPR) is currently 42.97%.

Institutional Investors Weigh In On Ashland

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in Ashland by 274.4% during the fourth quarter. Franklin Resources Inc. now owns 495,748 shares of the basic materials company’s stock worth $41,797,000 after acquiring an additional 363,328 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Ashland by 17.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,656,654 shares of the basic materials company’s stock valued at $139,673,000 after purchasing an additional 252,104 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Ashland by 9.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,314,387 shares of the basic materials company’s stock valued at $218,686,000 after purchasing an additional 198,913 shares during the period. AQR Capital Management LLC increased its stake in Ashland by 616.6% during the 2nd quarter. AQR Capital Management LLC now owns 189,175 shares of the basic materials company’s stock worth $17,875,000 after purchasing an additional 162,776 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in Ashland during the 2nd quarter worth approximately $14,346,000. 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.