StockNews.com Downgrades Ashland (NYSE:ASH) to Hold

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

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company reduced their target price on Ashland from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. UBS Group dropped their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, BMO Capital Markets raised their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.57.

Ashland Stock Down 2.6 %

NYSE:ASH opened at $63.45 on Thursday. Ashland has a one year low of $60.60 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The company has a market cap of $2.99 billion, a PE ratio of -96.14, a P/E/G ratio of 1.11 and a beta of 0.86. The firm’s 50 day simple moving average is $71.09 and its 200 day simple moving average is $80.61.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter last year, the firm earned $0.45 EPS. On average, research analysts anticipate that Ashland will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Ashland

In other Ashland news, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now directly owns 14,182 shares of the company’s stock, valued at $1,107,188.74. This represents a 3.08 % 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, CEO Guillermo Novo bought 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the purchase, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ASH. Prospera Private Wealth LLC purchased a new stake in shares of Ashland during the third quarter worth $31,000. UMB Bank n.a. lifted 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 in the last quarter. Versant Capital Management Inc bought a new position in Ashland in the 4th quarter worth about $33,000. Wilmington Savings Fund Society FSB purchased a new position in Ashland during the 3rd quarter valued at about $38,000. Finally, Assetmark Inc. increased 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 valued at $47,000 after buying an additional 464 shares during the period. 93.95% of the stock is owned by institutional investors.

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.