Ashland (NYSE:ASH) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their price target on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, BMO Capital Markets increased their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.57.

Ashland Stock Down 0.6 %

NYSE:ASH opened at $63.77 on Wednesday. The business’s fifty day moving average price is $72.88 and its 200 day moving average price is $81.96. Ashland has a 1-year low of $62.84 and a 1-year high of $102.50. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.14 and a beta of 0.87. 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 (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Ashland will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Ashland

In other news, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ashland

Several large investors have recently added to or reduced their stakes in ASH. Harbor Capital Advisors Inc. increased its holdings in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock valued at $8,513,000 after purchasing an additional 61,058 shares during the period. Edgestream Partners L.P. purchased a new position in Ashland in the 3rd quarter worth about $3,134,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ashland by 138.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock worth $10,501,000 after purchasing an additional 70,145 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ashland by 66.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock worth $14,752,000 after acquiring an additional 67,980 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Ashland by 703.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after acquiring an additional 161,812 shares during the period. 93.95% of the stock is currently owned by institutional investors.

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.