Ashland Global Holdings Inc. (NYSE:ASH) Short Interest Update

Ashland Global Holdings Inc. (NYSE:ASHGet Rating) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 1,180,000 shares, a decline of 36.2% from the April 15th total of 1,850,000 shares. Based on an average daily volume of 490,300 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.2% of the company’s stock are sold short.

A number of research analysts recently weighed in on ASH shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ashland Global from $120.00 to $122.00 in a research report on Thursday, April 28th. TheStreet upgraded Ashland Global from a “c” rating to a “b-” rating in a report on Tuesday, April 26th. Mizuho upped their target price on Ashland Global from $129.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, April 19th. Wells Fargo & Company raised their price target on Ashland Global from $105.00 to $113.00 and gave the company an “equal weight” rating in a research note on Monday, April 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Ashland Global from $109.00 to $107.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $121.25.

NYSE:ASH opened at $98.76 on Friday. Ashland Global has a 12-month low of $81.93 and a 12-month high of $111.05. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 5.97 and a beta of 1.14. The stock’s 50 day moving average price is $99.08 and its two-hundred day moving average price is $99.90. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.40.

Ashland Global (NYSE:ASHGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.14. Ashland Global had a return on equity of 9.45% and a net margin of 40.83%. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts expect that Ashland Global will post 5.11 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sageworth Trust Co of South Dakota bought a new position in Ashland Global during the 4th quarter worth $27,000. National Bank of Canada FI boosted its holdings in Ashland Global by 245.3% in the 1st quarter. National Bank of Canada FI now owns 328 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 233 shares during the period. Concord Wealth Partners acquired a new position in shares of Ashland Global during the 4th quarter worth approximately $35,000. Prospera Financial Services Inc acquired a new stake in shares of Ashland Global in the first quarter valued at approximately $35,000. Finally, Kenfarb & CO. bought a new stake in shares of Ashland Global in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 96.75% of the company’s stock.

About Ashland Global (Get Rating)

Ashland Global Holdings Inc provides additives and specialty ingredients worldwide. It operates through Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.

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