Analysts Set Ashland Inc. (NYSE:ASH) Price Target at $93.50

Shares of Ashland Inc. (NYSE:ASH) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $87.00.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. StockNews.com lowered shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, January 30th.

Insider Buying and Selling

In other news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ASH. Prospera Private Wealth LLC bought a new position in shares of Ashland during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in shares of Ashland during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in shares of Ashland during the 3rd quarter worth approximately $38,000. Assetmark Inc. raised its stake in shares of Ashland by 610.5% during the 3rd quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 464 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in Ashland during the 4th quarter valued at approximately $56,000. Institutional investors own 93.95% of the company’s stock.

Ashland Price Performance

Ashland stock opened at $55.86 on Friday. Ashland has a 12-month low of $54.16 and a 12-month high of $102.50. The firm has a 50-day moving average price of $65.66 and a 200-day moving average price of $76.19. The firm has a market capitalization of $2.64 billion, a PE ratio of -84.64, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, equities research analysts forecast that Ashland will post 4.27 EPS for the current year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.90%. Ashland’s dividend payout ratio is currently -245.45%.

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.