Ashland Global Holdings Inc. (NYSE:ASH)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a report released on Friday. They presently have a $74.00 price target on the basic materials company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 12.10% from the stock’s previous close. SunTrust Banks also issued estimates for Ashland Global Holdings’ Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.13 EPS, FY2018 earnings at $3.52 EPS and FY2019 earnings at $4.03 EPS.
Other analysts also recently issued reports about the company. BidaskClub downgraded Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Deutsche Bank AG increased their price target on Ashland Global Holdings from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. UBS AG increased their price target on Ashland Global Holdings from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research raised Ashland Global Holdings from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, October 24th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $77.00 price target (up from $74.00) on shares of Ashland Global Holdings in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.29.
Shares of Ashland Global Holdings (ASH) opened at $66.01 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.35 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4,060.00, a P/E ratio of 14.53, a P/E/G ratio of 1.91 and a beta of 1.08. Ashland Global Holdings has a 52-week low of $53.41 and a 52-week high of $69.33.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 earnings per share. research analysts anticipate that Ashland Global Holdings will post 3.41 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in ASH. Wellington Management Group LLP increased its position in Ashland Global Holdings by 197.1% in the first quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock worth $677,000 after buying an additional 3,627 shares during the last quarter. HighTower Advisors LLC increased its position in Ashland Global Holdings by 1.1% in the first quarter. HighTower Advisors LLC now owns 3,851 shares of the basic materials company’s stock worth $476,000 after buying an additional 42 shares during the last quarter. Fox Run Management L.L.C. increased its position in Ashland Global Holdings by 45.9% in the second quarter. Fox Run Management L.L.C. now owns 5,400 shares of the basic materials company’s stock worth $356,000 after buying an additional 1,700 shares during the last quarter. Capstone Asset Management Co. increased its position in Ashland Global Holdings by 3.4% in the second quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after buying an additional 208 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in Ashland Global Holdings by 8.4% in the second quarter. Gateway Investment Advisers LLC now owns 92,557 shares of the basic materials company’s stock worth $6,100,000 after buying an additional 7,151 shares during the last quarter. 94.06% of the stock is owned by institutional investors and hedge funds.
Ashland Global Holdings Company Profile
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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