Ashland (NYSE:ASH) Price Target Raised to $60.00 at Mizuho

Ashland (NYSE:ASH) had its price target increased by Mizuho from $54.00 to $60.00 in a research report sent to investors on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of Ashland from $60.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Ashland in a research report on Wednesday, October 8th. Morgan Stanley started coverage on Ashland in a report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price target for the company. Argus decreased their price target on Ashland from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 26th. Finally, UBS Group cut their price objective on Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ashland currently has a consensus rating of “Hold” and an average target price of $60.13.

Ashland Price Performance

Ashland stock opened at $49.59 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The business has a 50 day simple moving average of $49.82 and a 200-day simple moving average of $51.19. Ashland has a 12 month low of $45.21 and a 12 month high of $80.94. The stock has a market capitalization of $2.27 billion, a PE ratio of -2.65, a price-to-earnings-growth ratio of 11.41 and a beta of 0.49.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC boosted its position in shares of Ashland by 3,673.3% in the 3rd quarter. Rothschild Investment LLC now owns 566 shares of the basic materials company’s stock worth $27,000 after buying an additional 551 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Ashland by 59.0% during the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 249 shares during the last quarter. Abound Wealth Management purchased a new stake in shares of Ashland in the second quarter valued at about $40,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ashland in the third quarter valued at approximately $53,000. Finally, State of Wyoming purchased a new position in shares of Ashland during the 3rd quarter worth approximately $57,000. 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.