Ashland (NYSE:ASH) Price Target Raised to $100.00 at Wells Fargo & Company

Ashland (NYSE:ASHFree Report) had its price objective hoisted by Wells Fargo & Company from $80.00 to $100.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus reduced their price objective on Ashland from $110.00 to $96.00 and set a buy rating on the stock in a research report on Monday, November 13th. TheStreet lowered Ashland from a b- rating to a c+ rating in a research report on Friday, October 6th. UBS Group reduced their price objective on Ashland from $110.00 to $103.00 and set a buy rating on the stock in a research report on Thursday, November 9th. StockNews.com upgraded Ashland from a sell rating to a hold rating in a research report on Wednesday, January 31st. Finally, Mizuho reduced their price target on Ashland from $114.00 to $106.00 and set a buy rating on the stock in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $94.71.

Get Our Latest Stock Analysis on ASH

Ashland Stock Down 3.1 %

ASH stock opened at $91.56 on Thursday. The company has a quick ratio of 1.93, a current ratio of 3.30 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $82.71 and a two-hundred day moving average price of $82.40. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 30.02 and a beta of 0.93. Ashland has a twelve month low of $70.82 and a twelve month high of $108.48.

Ashland (NYSE:ASHGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.24. The business had revenue of $473.00 million during the quarter, compared to analysts’ expectations of $478.69 million. Ashland had a return on equity of 5.95% and a net margin of 7.62%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. Analysts anticipate that Ashland will post 4.02 EPS for the current fiscal year.

Ashland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, February 29th. Ashland’s dividend payout ratio (DPR) is presently 50.49%.

Insider Buying and Selling

In other Ashland news, insider Eric N. Boni sold 843 shares of Ashland stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $82.38, for a total value of $69,446.34. Following the sale, the insider now owns 13,072 shares of the company’s stock, valued at $1,076,871.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Institutional Trading of Ashland

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Ashland by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 188,767 shares of the basic materials company’s stock worth $15,418,000 after buying an additional 6,246 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Ashland by 25.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,267 shares of the basic materials company’s stock valued at $632,000 after purchasing an additional 1,465 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Ashland by 4.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,481 shares of the basic materials company’s stock valued at $2,041,000 after purchasing an additional 992 shares in the last quarter. Equitable Trust Co. boosted its stake in shares of Ashland by 124.3% in the 3rd quarter. Equitable Trust Co. now owns 6,368 shares of the basic materials company’s stock valued at $520,000 after purchasing an additional 3,529 shares in the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Ashland in the 2nd quarter valued at $5,695,000. Institutional investors own 90.08% of the company’s stock.

About Ashland

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ashland (NYSE:ASH)

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