Shares of Ashland Global Holdings Inc (NYSE:ASH) have earned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $91.75.
ASH has been the topic of several analyst reports. Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 9th. JPMorgan Chase & Co. upped their price objective on Ashland Global from $81.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, August 24th. Credit Suisse Group set a $95.00 price objective on Ashland Global and gave the company a “buy” rating in a research report on Friday, September 21st. UBS Group upped their price objective on Ashland Global from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Ashland Global in a research report on Thursday, August 2nd.
In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total value of $193,647.06. Following the transaction, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $354,341.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.14% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in shares of Ashland Global by 35.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 671,495 shares of the basic materials company’s stock worth $56,345,000 after buying an additional 176,800 shares in the last quarter. FIL Ltd grew its position in shares of Ashland Global by 0.8% during the 3rd quarter. FIL Ltd now owns 569,559 shares of the basic materials company’s stock worth $47,764,000 after buying an additional 4,338 shares in the last quarter. American International Group Inc. grew its position in shares of Ashland Global by 1.0% during the 3rd quarter. American International Group Inc. now owns 126,897 shares of the basic materials company’s stock worth $10,642,000 after buying an additional 1,304 shares in the last quarter. BlackRock Inc. grew its position in shares of Ashland Global by 0.5% during the 3rd quarter. BlackRock Inc. now owns 5,452,799 shares of the basic materials company’s stock worth $457,271,000 after buying an additional 26,295 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Ashland Global during the 3rd quarter worth $2,594,000. 93.25% of the stock is currently owned by institutional investors.
Shares of NYSE ASH traded down $0.20 during trading hours on Monday, hitting $83.63. 1,421,168 shares of the company traded hands, compared to its average volume of 659,649. The company has a market cap of $5.24 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.37 and a current ratio of 1.59. Ashland Global has a 12 month low of $64.81 and a 12 month high of $86.63.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.97. The firm had revenue of $956.00 million for the quarter, compared to the consensus estimate of $926.50 million. Ashland Global had a return on equity of 6.71% and a net margin of 3.05%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, equities analysts predict that Ashland Global will post 4.3 EPS for the current year.
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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