Ashland Inc. (ASH) Rating Reiterated by Jefferies Group
Ashland Inc. (NYSE:ASH)‘s stock had its “buy” rating reissued by analysts at Jefferies Group in a research note issued on Wednesday. They presently have a $140.00 price target on the stock. Jefferies Group’s price objective would suggest a potential upside of 29.44% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Ashland from a “hold” rating to a “sell” rating in a research note on Friday, October 7th. Credit Suisse Group AG lowered Ashland from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $122.00 to $119.00 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Ashland presently has a consensus rating of “Hold” and a consensus target price of $123.33.
Shares of Ashland (NYSE:ASH) opened at 108.16 on Wednesday. Ashland has a 1-year low of $88.30 and a 1-year high of $125.00. The stock has a market cap of $6.72 billion, a PE ratio of 36.09 and a beta of 0.98. The stock’s 50 day moving average price is $114.10 and its 200 day moving average price is $115.16.
Ashland (NYSE:ASH) last announced its earnings results on Tuesday, November 8th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.61 by $0.09. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Ashland had a negative net margin of 0.59% and a positive return on equity of 15.23%. During the same quarter in the previous year, the business posted $1.62 earnings per share. On average, equities research analysts anticipate that Ashland will post $6.81 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. MU Investments Co. Ltd. purchased a new position in shares of Ashland during the third quarter valued at approximately $104,000. Bollard Group LLC purchased a new position in shares of Ashland during the third quarter valued at approximately $107,000. Global X Management Co. LLC raised its position in shares of Ashland by 104.9% in the second quarter. Global X Management Co. LLC now owns 994 shares of the company’s stock valued at $114,000 after buying an additional 509 shares during the last quarter. Creative Planning raised its position in shares of Ashland by 87.4% in the second quarter. Creative Planning now owns 997 shares of the company’s stock valued at $114,000 after buying an additional 465 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Ashland by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,008 shares of the company’s stock valued at $116,000 after buying an additional 504 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.
Ashland Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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