Ashland (NYSE:ASH) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ashland (NYSE:ASH) had its target price upped by equities research analysts at BMO Capital Markets from $83.00 to $84.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential upside of 13.33% from the company’s previous close.

A number of other research firms have also recently weighed in on ASH. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. UBS Group reduced their price target on Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their price objective on Ashland from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ashland presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Ashland Stock Performance

Ashland stock opened at $74.12 on Wednesday. The firm has a market capitalization of $3.49 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. Ashland has a one year low of $74.00 and a one year high of $102.50. The stock’s 50 day moving average price is $81.58 and its 200 day moving average price is $88.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

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

Insider Activity at Ashland

In other news, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the sale, the senior vice president now directly owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Ashland

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prospera Private Wealth LLC acquired a new stake in shares of Ashland during the 3rd quarter worth approximately $31,000. UMB Bank n.a. boosted its position in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 251 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Ashland during the 3rd quarter worth $38,000. Assetmark Inc. increased its position in Ashland by 610.5% in 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 during the period. Finally, Quest Partners LLC lifted its stake 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 buying an additional 739 shares during the last quarter. 93.95% of the stock is currently 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.