Ashland Global Holdings Inc. (ASH) Receives $91.80 Average Target Price from Brokerages
Shares of Ashland Global Holdings Inc. (NYSE:ASH) have received an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $91.80.
Several equities research analysts have commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $77.00 price objective (up from $74.00) on shares of Ashland Global Holdings in a report on Tuesday, September 26th. BidaskClub downgraded shares of Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Ashland Global Holdings from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. Deutsche Bank AG dropped their price objective on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, TheStreet downgraded shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st.
Several hedge funds have recently bought and sold shares of ASH. Creative Planning increased its position in shares of Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 101 shares during the last quarter. Sciencast Management LP bought a new position in shares of Ashland Global Holdings in the second quarter worth approximately $271,000. Trexquant Investment LP bought a new position in shares of Ashland Global Holdings in the second quarter worth approximately $290,000. World Asset Management Inc increased its position in shares of Ashland Global Holdings by 2.4% in the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 104 shares during the last quarter. Finally, Shelton Capital Management bought a new position in shares of Ashland Global Holdings in the second quarter worth approximately $308,000. Institutional investors own 92.47% of the company’s stock.
Ashland Global Holdings (NYSE:ASH) traded down 0.07% during trading on Friday, reaching $67.00. 433,948 shares of the company were exchanged. The firm’s 50 day moving average price is $62.93 and its 200-day moving average price is $63.44. The stock’s market capitalization is $4.18 billion. Ashland Global Holdings has a one year low of $51.61 and a one year high of $67.90.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $842.78 million. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. On average, equities research analysts predict that Ashland Global Holdings will post $4.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, August 30th. Ashland Global Holdings’s dividend payout ratio (DPR) is -25.42%.
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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