TheStreet Lowers Ashland Inc. (ASH) to Hold
A number of other equities research analysts have also recently commented on the company. Credit Suisse Group AG set a $119.00 price objective on Ashland and gave the company a hold rating in a research note on Tuesday. Jefferies Group reissued a buy rating and issued a $140.00 price objective on shares of Ashland in a research note on Wednesday. Finally, Zacks Investment Research cut Ashland from a hold rating to a sell rating in a research report on Friday, October 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $123.33.
Ashland (NYSE:ASH) opened at 108.16 on Tuesday. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 36.09 and a beta of 0.98. The firm has a 50-day moving average price of $114.10 and a 200-day moving average price of $115.16. Ashland has a one year low of $88.30 and a one year high of $125.00.
Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by $0.09. Ashland had a negative net margin of 0.59% and a positive return on equity of 15.94%. The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $1.62 EPS. Analysts expect that Ashland will post $6.81 EPS for the current year.
Several hedge funds have recently modified their holdings of ASH. Vanguard Group Inc. raised its stake in shares of Ashland by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,760,801 shares of the company’s stock valued at $546,398,000 after buying an additional 77,778 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Ashland by 4.9% in the third quarter. BlackRock Fund Advisors now owns 2,340,795 shares of the company’s stock valued at $271,415,000 after buying an additional 108,479 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Ashland by 1.2% in the third quarter. Manning & Napier Advisors LLC now owns 2,145,047 shares of the company’s stock valued at $248,717,000 after buying an additional 25,964 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Ashland by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,897,399 shares of the company’s stock valued at $217,764,000 after buying an additional 13,192 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Ashland by 2.7% in the third quarter. Neuberger Berman Group LLC now owns 1,162,647 shares of the company’s stock valued at $134,809,000 after buying an additional 30,368 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.
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.
Receive News & Stock Ratings for Ashland Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Inc. and related stocks with our FREE daily email newsletter.