Ashland Global Holdings Inc. (ASH) Stock Rating Lowered by TheStreet
Ashland Global Holdings Inc. (NYSE:ASH) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Tuesday.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ashland Global Holdings in a research report on Friday, June 23rd. ValuEngine raised Ashland Global Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. BidaskClub downgraded Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Credit Suisse Group set a $122.00 target price on Ashland Global Holdings and gave the stock a “hold” rating in a research report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.33.
Shares of Ashland Global Holdings (NYSE ASH) traded down 1.01% on Tuesday, hitting $62.77. 1,121,690 shares of the stock were exchanged. The company’s market cap is $3.91 billion. Ashland Global Holdings has a 12 month low of $60.27 and a 12 month high of $128.19. The company has a 50-day moving average price of $66.24 and a 200 day moving average price of $62.02.
Ashland Global Holdings (NYSE:ASH) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a positive return on equity of 10.87% and a negative net margin of 4.71%. The company had revenue of $870 million during the quarter, compared to the consensus estimate of $842.78 million. During the same quarter in the prior year, the business earned $1.95 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Ashland Global Holdings will post $4.33 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. Envestnet Asset Management Inc. acquired a new position in Ashland Global Holdings during the fourth quarter valued at approximately $113,000. Teachers Advisors LLC boosted its position in Ashland Global Holdings by 28.9% in the fourth quarter. Teachers Advisors LLC now owns 362,415 shares of the basic materials company’s stock valued at $39,608,000 after buying an additional 81,278 shares during the period. Northstar Group Inc. acquired a new position in Ashland Global Holdings during the first quarter valued at approximately $218,000. Creative Planning boosted its position in Ashland Global Holdings by 0.3% in the first quarter. Creative Planning now owns 1,426 shares of the basic materials company’s stock valued at $177,000 after buying an additional 4 shares during the period. Finally, Capstone Asset Management Co. boosted its position in Ashland Global Holdings by 2.2% in the first quarter. Capstone Asset Management Co. now owns 6,171 shares of the basic materials company’s stock valued at $764,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 89.69% of the company’s stock.
About Ashland Global Holdings
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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