Ashland Global (NYSE:ASH) had its price target boosted by Deutsche Bank from $85.00 to $90.00 in a research report released on Thursday, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the basic materials company’s stock.
A number of other research firms have also commented on ASH. BMO Capital Markets raised Ashland Global from a market perform rating to an outperform rating and reduced their target price for the stock from $87.00 to $75.00 in a report on Monday, April 13th. TheStreet raised Ashland Global from a d+ rating to a c- rating in a report on Thursday, June 18th. Monness Crespi & Hardt lifted their target price on Ashland Global from $80.00 to $88.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. raised Ashland Global from an underweight rating to a neutral rating and reduced their target price for the stock from $68.00 to $62.00 in a report on Thursday, May 7th. Finally, Wells Fargo & Co lifted their target price on Ashland Global from $75.00 to $80.00 and gave the stock an overweight rating in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $82.60.
ASH stock opened at $75.48 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 1.78 and a debt-to-equity ratio of 0.56. The firm has a market cap of $4.55 billion, a PE ratio of -42.89, a price-to-earnings-growth ratio of 2.76 and a beta of 1.46. The business has a 50 day moving average of $70.93 and a 200 day moving average of $66.29.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.84 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $574.00 million for the quarter, compared to the consensus estimate of $574.61 million. During the same period last year, the business earned $0.77 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts expect that Ashland Global will post 2.54 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Leisure Capital Management boosted its stake in shares of Ashland Global by 6.2% in the 2nd quarter. Leisure Capital Management now owns 11,250 shares of the basic materials company’s stock worth $777,000 after buying an additional 653 shares during the last quarter. Brinker Capital Inc. purchased a new position in shares of Ashland Global in the 2nd quarter worth $251,000. State of Michigan Retirement System boosted its stake in shares of Ashland Global by 31.2% in the 2nd quarter. State of Michigan Retirement System now owns 21,972 shares of the basic materials company’s stock worth $1,518,000 after buying an additional 5,219 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Ashland Global in the 2nd quarter worth $485,000. Finally, Raymond James & Associates lifted its position in Ashland Global by 1.6% during the second quarter. Raymond James & Associates now owns 40,119 shares of the basic materials company’s stock valued at $2,772,000 after purchasing an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Ashland Global Company Profile
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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