Ashland (NYSE:ASH) Price Target Increased to $90.00 by Analysts at JPMorgan Chase & Co.

Ashland (NYSE:ASH) had its target price raised by JPMorgan Chase & Co. from $88.00 to $90.00 in a report released on Thursday, Benzinga reports. They currently have an underweight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Ashland from a sell rating to a hold rating in a research note on Wednesday, January 31st. UBS Group upped their price objective on Ashland from $114.00 to $116.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Wolfe Research initiated coverage on shares of Ashland in a research note on Friday, March 1st. They issued an outperform rating and a $108.00 target price for the company. Mizuho raised their price target on shares of Ashland from $101.00 to $110.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, TheStreet raised shares of Ashland from a c+ rating to a b- rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $103.11.

Ashland Trading Up 0.1 %

Shares of ASH stock opened at $95.85 on Thursday. The stock has a market cap of $4.80 billion, a P/E ratio of 25.42 and a beta of 0.92. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. Ashland has a fifty-two week low of $70.82 and a fifty-two week high of $99.55. The business has a fifty day simple moving average of $95.62 and a 200-day simple moving average of $86.99.

Ashland (NYSE:ASH) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating 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 firm had revenue of $575.00 million during the quarter, compared to the consensus estimate of $574.64 million. During the same period last year, the firm posted $1.43 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts forecast that Ashland will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ashland

Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Ashland by 17.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,592 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 682 shares during the period. Raymond James & Associates raised its position in shares of Ashland by 4.7% in the 3rd quarter. Raymond James & Associates now owns 6,576 shares of the basic materials company’s stock worth $537,000 after buying an additional 294 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ashland by 13.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,914 shares of the basic materials company’s stock valued at $810,000 after acquiring an additional 1,139 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Ashland by 24.0% during the third quarter. Chicago Partners Investment Group LLC now owns 2,822 shares of the basic materials company’s stock valued at $213,000 after acquiring an additional 546 shares during the period. Finally, Steph & Co. increased its stake in Ashland by 4.1% during the third quarter. Steph & Co. now owns 4,005 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 158 shares during the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

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.