Ashland (NYSE:ASH) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company raised shares of Ashland from an equal weight rating to an overweight rating and increased their price target for the company from $100.00 to $112.00 in a report on Thursday, April 11th. Jefferies Financial Group upgraded Ashland from a hold rating to a buy rating and lifted their target price for the stock from $100.00 to $126.00 in a report on Thursday, March 14th. UBS Group increased their price target on Ashland from $114.00 to $116.00 and gave the company a buy rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Ashland from $88.00 to $90.00 and gave the stock an underweight rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets increased their target price on shares of Ashland from $97.00 to $105.00 and gave the company a market perform rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $106.44.

Ashland Stock Performance

NYSE ASH opened at $97.65 on Monday. The stock has a market capitalization of $4.90 billion, a PE ratio of 25.90, a P/E/G ratio of 0.95 and a beta of 0.92. Ashland has a 1-year low of $70.82 and a 1-year high of $102.50. The business has a 50 day simple moving average of $97.76 and a two-hundred day simple moving average of $92.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.15 and a quick ratio of 1.94.

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 analysts’ consensus estimates of $1.14 by $0.13. The firm had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. Ashland had a net margin of 9.09% and a return on equity of 5.57%. Ashland’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. On average, research analysts predict that Ashland will post 4.47 EPS for the current fiscal year.

Ashland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, May 31st. This is an increase from Ashland’s previous quarterly dividend of $0.39. Ashland’s payout ratio is currently 42.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Ashland in the fourth quarter valued at about $28,000. Hexagon Capital Partners LLC lifted its stake in Ashland by 143.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 223 shares during the period. Covestor Ltd grew its holdings in Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 311 shares in the last quarter. Finally, CWM LLC grew its holdings in Ashland by 163.7% during the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in 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.