Ashland Global (NYSE:ASH) had its target price boosted by research analysts at Credit Suisse Group from $95.00 to $97.00 in a research note issued on Thursday. The firm presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 14.71% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 9th. UBS Group lifted their price target on shares of Ashland Global from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Ashland Global from $81.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, August 24th. KeyCorp reiterated a “buy” rating and set a $93.00 price target on shares of Ashland Global in a research report on Thursday, August 2nd. Finally, BMO Capital Markets lifted their price target on shares of Ashland Global from $84.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Ashland Global has an average rating of “Buy” and an average target price of $90.20.
ASH traded up $0.59 during trading on Thursday, reaching $84.56. The company’s stock had a trading volume of 165,952 shares, compared to its average volume of 587,859. Ashland Global has a 52-week low of $64.13 and a 52-week high of $86.63. The firm has a market capitalization of $4.86 billion, a PE ratio of 23.62, a P/E/G ratio of 1.97 and a beta of 1.28. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.69%. The company had revenue of $956.00 million during the quarter, compared to the consensus estimate of $926.50 million. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Ashland Global will post 3.95 EPS for the current year.
In related news, VP Keith C. Silverman sold 2,286 shares of Ashland Global stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total transaction of $193,647.06. Following the completion of the transaction, the vice president now directly owns 4,183 shares in the company, valued at approximately $354,341.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. purchased a new stake in Ashland Global in the 2nd quarter worth approximately $200,000. Creative Planning purchased a new stake in Ashland Global in the 3rd quarter worth approximately $206,000. Commerce Bank purchased a new stake in Ashland Global in the 3rd quarter worth approximately $209,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Ashland Global in the 2nd quarter worth approximately $221,000. Finally, Bradley Foster & Sargent Inc. CT purchased a new stake in Ashland Global in the 2nd quarter worth approximately $223,000. Hedge funds and other institutional investors own 93.25% of the company’s stock.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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