Ashland (NYSE:ASH) Upgraded at Zacks Research

Zacks Research upgraded shares of Ashland (NYSE:ASH) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on ASH. Wall Street Zen upgraded Ashland from a “sell” rating to a “hold” rating in a report on Friday, June 27th. UBS Group decreased their price objective on Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Morgan Stanley assumed coverage on Ashland in a report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price objective for the company. BMO Capital Markets increased their price objective on Ashland from $60.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, September 2nd. Finally, Argus decreased their price objective on Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.43.

Ashland Price Performance

Shares of Ashland stock opened at $48.75 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.23 billion, a PE ratio of -2.60, a P/E/G ratio of 3.52 and a beta of 0.52. The business has a 50 day moving average of $52.77 and a 200 day moving average of $52.24. Ashland has a 52 week low of $45.21 and a 52 week high of $88.89.

Ashland (NYSE:ASH) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.11). The business had revenue of $463.00 million for the quarter, compared to the consensus estimate of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. Ashland’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS. Ashland has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Ashland will post 4.27 earnings per share for the current year.

Ashland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a dividend of $0.415 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.4%. Ashland’s dividend payout ratio (DPR) is -8.86%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 249 shares during the period. Abound Wealth Management bought a new stake in Ashland during the 2nd quarter valued at approximately $40,000. Farther Finance Advisors LLC raised its stake in Ashland by 2,736.0% during the 1st quarter. Farther Finance Advisors LLC now owns 709 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 684 shares during the period. UMB Bank n.a. raised its stake in Ashland by 212.4% during the 1st quarter. UMB Bank n.a. now owns 706 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 480 shares during the period. Finally, Allworth Financial LP raised its stake in Ashland by 63.9% during the 1st quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 325 shares during the period. 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.