UBS Group Lowers Ashland (NYSE:ASH) Price Target to $93.00

Ashland (NYSE:ASH) had its price objective decreased by equities researchers at UBS Group from $95.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target suggests a potential upside of 45.83% from the company’s current price.

Several other research firms have also commented on ASH. BMO Capital Markets raised their price target on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Ashland has an average rating of “Moderate Buy” and an average price target of $95.57.

Ashland Price Performance

Shares of Ashland stock opened at $63.77 on Wednesday. The business has a 50 day simple moving average of $72.88 and a two-hundred day simple moving average of $81.96. Ashland has a 12 month low of $62.84 and a 12 month high of $102.50. The stock has a market capitalization of $3.00 billion, a P/E ratio of 19.04, a PEG ratio of 1.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

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. As a group, analysts predict that Ashland will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Ashland

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its stake in Ashland by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 48,763 shares of the basic materials company’s stock valued at $4,608,000 after buying an additional 1,144 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Ashland during the second quarter valued at approximately $1,587,000. Squarepoint Ops LLC bought a new position in Ashland during the second quarter valued at approximately $3,085,000. Algert Global LLC bought a new position in Ashland during the second quarter valued at approximately $453,000. Finally, Creative Planning grew its holdings in Ashland by 3.8% during the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 93.95% of the company’s stock.

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.