Ashland (NYSE:ASH) Stock Rating Upgraded by StockNews.com

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

Several other analysts have also weighed in on the stock. Wells Fargo & Company decreased their target price on shares of 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 Ashland from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $89.00 in a report on Thursday, August 8th. BMO Capital Markets dropped their target price on Ashland from $92.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 19th. Finally, UBS Group lowered their price target on Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.29.

Ashland Trading Down 2.2 %

Shares of ASH opened at $76.45 on Wednesday. The stock’s 50-day moving average price is $82.87 and its 200 day moving average price is $89.13. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 1.17 and a beta of 0.86. Ashland has a 12-month low of $75.04 and a 12-month high of $102.50.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The firm had revenue of $522.00 million for the quarter, compared to the consensus estimate of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts predict that Ashland will post 4.66 earnings per share for the current year.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ashland

A number of institutional investors have recently modified their holdings of the stock. Prospera Private Wealth LLC acquired a new stake in shares of Ashland in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its position in Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after buying an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland in the 3rd quarter valued at $38,000. Assetmark Inc. raised its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ashland by 133.8% during the second quarter. GAMMA Investing LLC now owns 650 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 372 shares during the period. 93.95% of the stock is owned by institutional investors.

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.