Ashland (NYSE:ASH) Cut to Hold at StockNews.com

Ashland (NYSE:ASH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company cut their target price on Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, UBS Group lowered their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Trading Down 1.2 %

NYSE:ASH opened at $74.94 on Thursday. The stock has a fifty day moving average price of $81.79 and a 200 day moving average price of $88.30. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. Ashland has a 12-month low of $74.75 and a 12-month high of $102.50. The firm has a market cap of $3.53 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). The firm had revenue of $522.00 million during the quarter, compared to analyst estimates of $524.07 million. Ashland had a net margin of 7.95% and a return on equity of 7.43%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Sell-side analysts anticipate that Ashland will post 4.66 earnings per share for the current fiscal year.

Insider Activity at Ashland

In other news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total value of $35,209.57. Following the transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new stake in Ashland during the 3rd quarter worth $31,000. UMB Bank n.a. increased its holdings in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Ashland during the 3rd quarter valued at approximately $38,000. Assetmark Inc. grew its position in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after buying an additional 464 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in Ashland by 8,211.1% in the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 739 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

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.