Brokerages Set Ashland Inc. (NYSE:ASH) PT at $68.60

Ashland Inc. (NYSE:ASH) has received an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $68.60.

Several research firms have recently weighed in on ASH. Wells Fargo & Company lowered shares of Ashland from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 1st. Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Ashland from $71.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Mizuho set a $60.00 price target on Ashland in a research report on Tuesday, April 15th. Finally, UBS Group decreased their target price on Ashland from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 1st.

Ashland Stock Performance

Shares of NYSE:ASH opened at $48.76 on Friday. The business’s fifty day moving average price is $50.68 and its two-hundred day moving average price is $59.64. Ashland has a fifty-two week low of $45.21 and a fifty-two week high of $98.99. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -20.32, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.32 and a quick ratio of 1.15.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.11). Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $514.79 million. During the same quarter last year, the company earned $1.27 earnings per share. The business’s revenue was down 16.7% on a year-over-year basis. As a group, analysts predict that Ashland will post 4.27 EPS for the current fiscal year.

Ashland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.415 per share. This is a boost from Ashland’s previous quarterly dividend of $0.41. This represents a $1.66 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, May 30th. Ashland’s dividend payout ratio is -69.17%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in Ashland by 6.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock worth $257,000 after buying an additional 211 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in Ashland by 5.7% during the 4th quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 284 shares during the last quarter. Xponance Inc. boosted its stake in Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 301 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Ashland by 20.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 303 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Ashland by 10.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 317 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.