Ashland Global (NYSE:ASH) had its target price hoisted by UBS Group from $71.00 to $78.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential upside of 15.78% from the stock’s current price.
Several other analysts also recently commented on ASH. JPMorgan Chase & Co. raised shares of Ashland Global from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $62.00 in a research report on Thursday, May 7th. Monness Crespi & Hardt cut their price target on shares of Ashland Global from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Deutsche Bank raised their price target on shares of Ashland Global from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TheStreet raised Ashland Global from a “d+” rating to a “c-” rating in a research report on Thursday, June 18th. Finally, SunTrust Banks reduced their target price on Ashland Global from $87.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $77.70.
Ashland Global stock opened at $67.37 on Thursday. Ashland Global has a twelve month low of $38.88 and a twelve month high of $81.82. The company has a quick ratio of 1.06, a current ratio of 1.69 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4.06 billion, a P/E ratio of 26.84, a PEG ratio of 2.89 and a beta of 1.46. The stock’s 50 day moving average is $67.97 and its 200 day moving average is $66.41.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.84 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. Ashland Global had a positive return on equity of 4.63% and a negative net margin of 3.05%. The business had revenue of $610.00 million for the quarter, compared to the consensus estimate of $618.75 million. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts expect that Ashland Global will post 2.17 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in ASH. Envestnet Asset Management Inc. raised its position in shares of Ashland Global by 15.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,071 shares of the basic materials company’s stock valued at $465,000 after buying an additional 796 shares in the last quarter. Prudential Financial Inc. raised its position in Ashland Global by 5.9% during the fourth quarter. Prudential Financial Inc. now owns 40,274 shares of the basic materials company’s stock valued at $3,082,000 after purchasing an additional 2,250 shares during the period. Atria Investments LLC raised its position in Ashland Global by 33.3% during the fourth quarter. Atria Investments LLC now owns 3,737 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 933 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of Ashland Global in the 4th quarter valued at approximately $3,104,000. Finally, Raymond James & Associates boosted its holdings in shares of Ashland Global by 2.9% in the 4th quarter. Raymond James & Associates now owns 41,446 shares of the basic materials company’s stock worth $3,172,000 after purchasing an additional 1,165 shares during the period. Institutional investors own 92.49% of the company’s stock.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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