Ashland Global Holdings Inc (ASH) Receives $89.47 Average PT from Analysts
Ashland Global Holdings Inc (NYSE:ASH) has earned an average recommendation of “Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $89.47.
A number of equities analysts recently commented on ASH shares. Deutsche Bank reduced their price objective on shares of Ashland Global from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, January 2nd. Credit Suisse Group set a $97.00 price objective on shares of Ashland Global and gave the stock a “buy” rating in a research note on Friday, December 14th. UBS Group boosted their price objective on shares of Ashland Global from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. TheStreet downgraded Ashland Global from a “b” rating to a “c+” rating in a research report on Wednesday, November 7th. Finally, Zacks Investment Research downgraded Ashland Global from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th.
NYSE:ASH traded up $0.26 during trading hours on Friday, reaching $75.92. The company’s stock had a trading volume of 729,855 shares, compared to its average volume of 563,975. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. Ashland Global has a 12 month low of $64.81 and a 12 month high of $86.63. The company has a quick ratio of 0.98, a current ratio of 1.59 and a debt-to-equity ratio of 0.67.
Ashland Global (NYSE:ASH) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $956.00 million during the quarter, compared to the consensus estimate of $926.50 million. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. Ashland Global’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, sell-side analysts expect that Ashland Global will post 3.23 EPS for the current year.
In other news, VP Keith C. Silverman sold 322 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $81.57, for a total transaction of $26,265.54. Following the transaction, the vice president now directly owns 3,380 shares of the company’s stock, valued at $275,706.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Keith C. Silverman sold 498 shares of the company’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $81.67, for a total value of $40,671.66. Following the transaction, the vice president now directly owns 3,380 shares in the company, valued at $276,044.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,067 shares of company stock worth $1,224,405. Insiders own 1.14% of the company’s stock.
Several hedge funds have recently modified their holdings of ASH. FNY Investment Advisers LLC grew its holdings in shares of Ashland Global by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 1,000 shares of the basic materials company’s stock valued at $70,000 after buying an additional 500 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Ashland Global during the third quarter valued at $138,000. Creative Planning purchased a new stake in shares of Ashland Global during the third quarter valued at $206,000. Commerce Bank purchased a new stake in shares of Ashland Global during the third quarter valued at $209,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ashland Global during the second quarter valued at $221,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Ashland Global Company Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company’s Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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