Ashland Global Holdings’ (ASH) “Buy” Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. reaffirmed their buy rating on shares of Ashland Global Holdings Inc. (NYSE:ASH) in a research note released on Friday morning. The brokerage currently has a $74.00 price target on the basic materials company’s stock. SunTrust Banks also issued estimates for Ashland Global Holdings’ Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.13 EPS, FY2018 earnings at $3.52 EPS and FY2019 earnings at $4.03 EPS.
Several other analysts have also weighed in on the company. Jefferies Group LLC restated a buy rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, September 3rd. Zacks Investment Research upgraded Ashland Global Holdings from a hold rating to a buy rating and set a $75.00 price objective for the company in a report on Tuesday, October 24th. BidaskClub lowered Ashland Global Holdings from a strong-buy rating to a buy rating in a report on Sunday, July 16th. Deutsche Bank AG cut their price objective on Ashland Global Holdings from $75.00 to $74.00 and set a buy rating for the company in a report on Thursday, August 3rd. Finally, TheStreet lowered Ashland Global Holdings from a b rating to a c+ rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $81.29.
Ashland Global Holdings (NYSE:ASH) opened at $66.01 on Friday. Ashland Global Holdings has a 52 week low of $53.41 and a 52 week high of $69.33. The stock has a market capitalization of $4,119.16, a price-to-earnings ratio of 14.73, a PEG ratio of 1.93 and a beta of 1.07. The company has a quick ratio of 1.35, a current ratio of 1.97 and a debt-to-equity ratio of 0.76.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million during the quarter, compared to the consensus estimate of $869.62 million. During the same period in the previous year, the company posted $1.52 EPS. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. research analysts expect that Ashland Global Holdings will post 3.43 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of Ashland Global Holdings by 7.1% during the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 101 shares during the last quarter. Commonwealth Equity Services Inc purchased a new stake in shares of Ashland Global Holdings during the third quarter valued at $234,000. Sciencast Management LP purchased a new stake in shares of Ashland Global Holdings during the second quarter valued at $271,000. Trexquant Investment LP purchased a new stake in shares of Ashland Global Holdings during the second quarter valued at $290,000. Finally, World Asset Management Inc lifted its holdings in shares of Ashland Global Holdings by 2.4% during the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 104 shares during the last quarter. 94.06% of the stock is owned by institutional investors and hedge funds.
Ashland Global Holdings Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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