Ashland Global (NYSE:ASH) had its price target raised by equities research analysts at Deutsche Bank from $85.00 to $90.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank’s target price would indicate a potential upside of 19.24% from the company’s current price.
ASH has been the subject of several other research reports. TheStreet upgraded shares of Ashland Global from a “d+” rating to a “c-” rating in a research note on Thursday, June 18th. Monness Crespi & Hardt boosted their target price on shares of Ashland Global from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday. SunTrust Banks boosted their price target on shares of Ashland Global from $75.00 to $87.00 and gave the company a “buy” rating in a report on Monday, July 20th. UBS Group boosted their price target on shares of Ashland Global from $71.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Credit Suisse Group reissued a “buy” rating and set a $91.00 price target on shares of Ashland Global in a report on Tuesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $82.60.
ASH stock opened at $75.48 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 1.06. Ashland Global has a 1-year low of $38.88 and a 1-year high of $81.82. The firm has a fifty day moving average price of $70.93 and a two-hundred day moving average price of $66.29. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of -42.89, a PEG ratio of 2.76 and a beta of 1.46.
Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, July 28th. The basic materials company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). Ashland Global had a negative net margin of 4.39% and a positive return on equity of 4.79%. The business had revenue of $574.00 million for the quarter, compared to the consensus estimate of $574.61 million. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts expect that Ashland Global will post 2.55 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ASH. Stifel Financial Corp acquired a new stake in Ashland Global in the fourth quarter worth about $796,000. Guggenheim Capital LLC lifted its holdings in Ashland Global by 1.2% in the fourth quarter. Guggenheim Capital LLC now owns 119,722 shares of the basic materials company’s stock worth $9,162,000 after purchasing an additional 1,407 shares during the period. Bank of America Corp DE lifted its holdings in Ashland Global by 11.2% in the fourth quarter. Bank of America Corp DE now owns 187,538 shares of the basic materials company’s stock worth $14,352,000 after purchasing an additional 18,899 shares during the period. Man Group plc acquired a new stake in Ashland Global in the fourth quarter worth about $8,824,000. Finally, Alliancebernstein L.P. lifted its holdings in Ashland Global by 2.4% in the fourth quarter. Alliancebernstein L.P. now owns 106,819 shares of the basic materials company’s stock worth $8,175,000 after purchasing an additional 2,530 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.
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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