Ashland Inc. (NYSE:ASH) Receives $93.50 Consensus Price Target from Brokerages

Ashland Inc. (NYSE:ASH - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $93.50.

Several brokerages have weighed in on ASH. StockNews.com downgraded Ashland from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. BMO Capital Markets raised their target price 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 cut their target price on Ashland from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Seaport Res Ptn lowered Ashland from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Ashland from $81.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th.

Insider Activity at Ashland

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the completion of the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at $2,010,326.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.02% of the company's stock.

Remove Ads

Institutional Trading of Ashland

A number of institutional investors have recently bought and sold shares of ASH. Pacer Advisors Inc. boosted its position in Ashland by 6,127.2% during the third quarter. Pacer Advisors Inc. now owns 880,459 shares of the basic materials company's stock worth $76,574,000 after purchasing an additional 866,320 shares in the last quarter. Shapiro Capital Management LLC boosted its position in Ashland by 172.5% during the fourth quarter. Shapiro Capital Management LLC now owns 670,785 shares of the basic materials company's stock worth $47,934,000 after purchasing an additional 424,595 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Ashland during the fourth quarter worth $28,943,000. Massachusetts Financial Services Co. MA boosted its position in Ashland by 12.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,598,602 shares of the basic materials company's stock worth $226,000,000 after purchasing an additional 284,215 shares in the last quarter. Finally, Eminence Capital LP raised its holdings in shares of Ashland by 8.0% in the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company's stock worth $204,409,000 after acquiring an additional 212,916 shares during the last quarter. 93.95% of the stock is currently owned by hedge funds and other institutional investors.

Ashland Trading Down 2.1 %

Shares of Ashland stock traded down $1.27 during trading hours on Friday, hitting $58.38. The company's stock had a trading volume of 1,158,608 shares, compared to its average volume of 438,908. Ashland has a twelve month low of $56.46 and a twelve month high of $102.50. The firm has a fifty day moving average of $66.50 and a 200-day moving average of $76.82. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -88.45, a P/E/G 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 (NYSE:ASH - Get Free Report) last posted its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) 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 period last year, the business posted $0.45 EPS. Research analysts forecast that Ashland will post 4.27 EPS for the current year.

Ashland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.78%. Ashland's dividend payout ratio (DPR) is presently -245.45%.

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.