Ashland (NYSE:ASH) Price Target Raised to $116.00

Ashland (NYSE:ASH) had its price target boosted by UBS Group from $114.00 to $116.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group upgraded shares of Ashland from a hold rating to a buy rating and lifted their target price for the company from $100.00 to $126.00 in a research note on Thursday, March 14th. JPMorgan Chase & Co. boosted their price objective on Ashland from $70.00 to $88.00 and gave the company an underweight rating in a research report on Thursday, February 1st. Wells Fargo & Company raised Ashland from an equal weight rating to an overweight rating and upped their price objective for the stock from $100.00 to $112.00 in a research note on Thursday, April 11th. StockNews.com raised Ashland from a sell rating to a hold rating in a research note on Wednesday, January 31st. Finally, TheStreet upgraded Ashland from a c+ rating to a b- rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $103.11.

Ashland Stock Up 0.0 %

NYSE ASH opened at $95.81 on Wednesday. Ashland has a 52 week low of $70.82 and a 52 week high of $99.55. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $4.80 billion, a P/E ratio of 25.41 and a beta of 0.92. The stock’s 50-day moving average price is $95.59 and its 200-day moving average price is $86.72.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.13. Ashland had a net margin of 9.09% and a return on equity of 5.57%. The company had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. During the same period in the prior year, the firm posted $1.43 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Ashland will post 4.33 earnings per share for the current year.

Hedge Funds Weigh In On Ashland

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Ashland during the fourth quarter valued at $28,000. Hexagon Capital Partners LLC lifted its position in Ashland by 143.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 223 shares during the last quarter. Covestor Ltd lifted its position in Ashland by 338.0% during the third quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 311 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Ashland by 43.1% in the 3rd quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock worth $46,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

About Ashland

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates 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.