Wells Fargo & Company Lowers Ashland (NYSE:ASH) Price Target to $51.00

Ashland (NYSE:ASH) had its price target reduced by equities researchers at Wells Fargo & Company from $52.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 1.89% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Argus decreased their price objective on shares of Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Mizuho reduced their price target on Ashland from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Morgan Stanley assumed coverage on Ashland in a research note on Monday, September 8th. They set an “equal weight” rating and a $60.00 price objective for the company. BMO Capital Markets upped their target price on Ashland from $60.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, September 2nd. Finally, UBS Group reduced their target price on Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.38.

Ashland Trading Down 0.0%

ASH opened at $50.05 on Tuesday. The firm’s 50 day moving average is $50.01 and its 200-day moving average is $51.23. Ashland has a 52-week low of $45.21 and a 52-week high of $80.94. 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 firm has a market capitalization of $2.29 billion, a P/E ratio of -2.67, a P/E/G ratio of 11.41 and a beta of 0.49.

Ashland (NYSE:ASH) last announced its earnings results on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The business had revenue of $509.00 million during the quarter. Ashland has set its FY 2022 guidance at EPS. Analysts expect that Ashland will post 4.27 EPS for the current fiscal year.

Institutional Trading of Ashland

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Ashland by 284.3% in the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock worth $172,318,000 after acquiring an additional 2,555,585 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Ashland by 3.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,847,326 shares of the basic materials company’s stock worth $143,164,000 after purchasing an additional 84,086 shares during the period. Cooperman Leon G lifted its holdings in shares of Ashland by 16.6% in the 1st quarter. Cooperman Leon G now owns 1,694,151 shares of the basic materials company’s stock worth $100,446,000 after purchasing an additional 240,686 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Ashland by 7.4% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,683,627 shares of the basic materials company’s stock valued at $99,822,000 after purchasing an additional 115,811 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Ashland by 11.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,371,755 shares of the basic materials company’s stock worth $68,972,000 after buying an additional 143,230 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

Ashland Company Profile

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.