Wells Fargo & Company Lowers Ashland (NYSE:ASH) Price Target to $69.00

Ashland (NYSE:ASH) had its price objective reduced by research analysts at Wells Fargo & Company from $80.00 to $69.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 16.96% from the stock’s current price.

A number of other research analysts have also recently weighed in on ASH. BMO Capital Markets lifted their price target on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Ashland from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $71.00 in a research note on Wednesday. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, UBS Group decreased their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ashland currently has an average rating of “Moderate Buy” and an average target price of $85.40.

Ashland Price Performance

ASH stock opened at $58.99 on Thursday. The stock’s 50 day moving average price is $62.54 and its 200 day moving average price is $73.71. The firm has a market cap of $2.78 billion, a P/E ratio of -89.38, a PEG ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. Ashland has a 1 year low of $54.86 and a 1 year high of $102.50.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted $0.45 EPS. On average, sell-side analysts expect that Ashland will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the business’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now directly owns 31,294 shares of the company’s stock, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Ashland

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Ashland by 10.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after buying an additional 317 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Ashland during the fourth quarter worth about $1,265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ashland by 15.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,841 shares of the basic materials company’s stock valued at $9,922,000 after purchasing an additional 18,100 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Ashland by 25.9% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 4,753 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 977 shares during the period. Finally, Two Sigma Advisers LP grew its position in Ashland by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 20,500 shares of the basic materials company’s stock worth $1,465,000 after purchasing an additional 1,100 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

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.