Ashland Inc. (NYSE:ASH) Given Consensus Recommendation of “Hold” by Analysts

Shares of Ashland Inc. (NYSE:ASH) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.7778.

ASH has been the topic of several recent research reports. Argus reduced their price objective on Ashland from $70.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $60.00 price objective on shares of Ashland in a research note on Friday, May 1st. Wells Fargo & Company dropped their target price on Ashland from $60.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Ashland from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Ashland from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th.

More Ashland News

Here are the key news stories impacting Ashland this week:

• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of investors in Ashland Inc. (ASH), which can add uncertainty and weigh on the shares. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Ashland Inc. – ASH
• Negative Sentiment: Zacks Research downgraded Ashland Inc. (ASH) from “hold” to “strong sell,” signaling a more cautious view that could contribute to downside pressure. Zacks.com

Ashland Price Performance

Ashland stock opened at $55.01 on Wednesday. The business has a fifty day moving average price of $55.09 and a 200-day moving average price of $56.67. The firm has a market capitalization of $2.52 billion, a P/E ratio of -3.57, a PEG ratio of 1.77 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.06 and a quick ratio of 1.78. Ashland has a one year low of $46.29 and a one year high of $65.64.

Ashland (NYSE:ASH) last posted its earnings results on Tuesday, April 28th. The basic materials company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). The firm had revenue of $964.00 million for the quarter, compared to the consensus estimate of $485.61 million. Ashland had a positive return on equity of 8.06% and a negative net margin of 39.03%.The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. As a group, equities research analysts forecast that Ashland will post 3.51 EPS for the current year.

Ashland Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.42 dividend. This is a boost from Ashland’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, June 1st. This represents a $1.68 annualized dividend and a yield of 3.1%. Ashland’s dividend payout ratio (DPR) is currently -10.77%.

Institutional Investors Weigh In On Ashland

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of Ashland by 18.7% in the first quarter. Royal Bank of Canada now owns 46,306 shares of the basic materials company’s stock worth $2,747,000 after acquiring an additional 7,309 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Ashland by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,815 shares of the basic materials company’s stock worth $226,000 after buying an additional 225 shares during the last quarter. Millennium Management LLC increased its position in shares of Ashland by 49.4% during the first quarter. Millennium Management LLC now owns 284,454 shares of the basic materials company’s stock valued at $16,865,000 after acquiring an additional 94,067 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Ashland by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 387,132 shares of the basic materials company’s stock valued at $22,953,000 after purchasing an additional 6,245 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ashland by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 152,830 shares of the basic materials company’s stock worth $9,061,000 after purchasing an additional 13,989 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

Ashland Company Profile

Ashland Inc is a global specialty chemicals company that develops, manufactures and supplies a broad range of performance and process-critical additives, ingredients and technologies. Its portfolio spans performance additives for coatings, adhesives and sealants; specialty ingredients for personal care and pharmaceutical applications; and process aids used in water treatment and other industrial processes. Ashland aims to address customer challenges by delivering tailored solutions that improve product performance, processing efficiency and sustainability outcomes.

Founded in 1924 as the Ashland Oil & Refining Company, the firm gradually expanded into the specialty chemicals sector over the second half of the 20th century.