Wells Fargo & Company Raises Ashland Global (NYSE:ASH) Price Target to $113.00

Ashland Global (NYSE:ASH – Get Rating) had its target price boosted by equities researchers at Wells Fargo & Company from $105.00 to $113.00 in a note issued to investors on Monday, The Fly reports. Wells Fargo & Company‘s price objective suggests a potential upside of 6.38% from the company’s current price.

ASH has been the subject of several other research reports. Zacks Investment Research upgraded shares of Ashland Global from a “sell” rating to a “hold” rating and set a $111.00 target price for the company in a report on Thursday. Mizuho upped their target price on shares of Ashland Global from $127.00 to $129.00 and gave the company a “buy” rating in a report on Friday, March 25th. TheStreet cut shares of Ashland Global from a “b-” rating to a “c” rating in a report on Friday, March 18th. BMO Capital Markets lowered their target price on shares of Ashland Global from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, January 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Ashland Global from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ashland Global presently has a consensus rating of “Buy” and an average target price of $120.25.

Shares of NYSE:ASH opened at $106.22 on Monday. Ashland Global has a 52 week low of $81.93 and a 52 week high of $110.74. The firm has a 50 day moving average price of $95.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.33 and a current ratio of 1.91. The stock has a market cap of $6.05 billion, a P/E ratio of 30.35 and a beta of 1.28.

Ashland Global (NYSE:ASH – Get Rating) last announced its quarterly earnings data on Tuesday, February 1st. The basic materials company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. Ashland Global had a net margin of 9.07% and a return on equity of 8.92%. The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $512.44 million. During the same period in the prior year, the firm posted $0.66 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Ashland Global will post 5 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. First Financial Bank Trust Division lifted its stake in shares of Ashland Global by 3.6% in the 1st quarter. First Financial Bank Trust Division now owns 67,094 shares of the basic materials company’s stock worth $6,602,000 after acquiring an additional 2,339 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Ashland Global by 72.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,761 shares of the basic materials company’s stock worth $513,000 after acquiring an additional 2,000 shares during the period. Norges Bank acquired a new stake in shares of Ashland Global in the 4th quarter worth $60,113,000. Goldman Sachs Group Inc. lifted its stake in shares of Ashland Global by 34.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,243,614 shares of the basic materials company’s stock worth $133,887,000 after acquiring an additional 320,731 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Ashland Global by 2.9% in the 4th quarter. Deutsche Bank AG now owns 34,602 shares of the basic materials company’s stock worth $3,726,000 after acquiring an additional 990 shares during the period. Institutional investors own 91.88% of the company’s stock.

Ashland Global Company Profile (Get Rating)

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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