Ashland (NYSE:ASH) Price Target Cut to $93.00 by Analysts at UBS Group

Ashland (NYSE:ASH - Get Free Report) had its price target cut by analysts at UBS Group from $95.00 to $93.00 in a report released on Wednesday,Benzinga reports. The brokerage presently 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 stock's previous close.

ASH has been the topic of several other reports. Wells Fargo & Company dropped their price objective on shares of Ashland from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets upped their price target on shares of Ashland from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Wednesday, December 11th. Finally, StockNews.com lowered Ashland from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ashland currently has an average rating of "Moderate Buy" and an average price target of $95.57.

Ashland Stock Down 0.6 %

Shares of ASH stock traded down $0.40 during mid-day trading on Wednesday, hitting $63.77. 1,660,443 shares of the stock traded hands, compared to its average volume of 613,139. The stock's fifty day moving average is $73.16 and its two-hundred day moving average is $82.09. 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 has a 52-week low of $62.84 and a 52-week high of $102.50. The stock has a market cap of $3.00 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.14 and a beta of 0.87.

Ashland (NYSE:ASH - Get Free Report) last announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share 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 quarter last year, the company earned $0.45 earnings per share. Equities analysts predict that Ashland will post 4.31 EPS for the current year.

Insider Buying and Selling at Ashland

In related news, VP Eric N. Boni sold 451 shares of the company's stock in a transaction dated 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 transaction, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robin E. Lampkin sold 868 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in Ashland during the third quarter worth approximately $31,000. UMB Bank n.a. increased its position in Ashland by 193.1% during the third quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $33,000 after purchasing an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Ashland during the third quarter worth about $38,000. Versant Capital Management Inc acquired a new position in Ashland in the 4th quarter valued at about $33,000. Finally, Assetmark Inc. increased its holdings in shares of Ashland by 610.5% during the 3rd 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 last quarter. 93.95% of the stock is 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.