Evercore ISI Lowers Ashland (NYSE:ASH) Price Target to $53.00

Ashland (NYSE:ASH) had its price objective cut by equities research analysts at Evercore ISI from $62.00 to $53.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the basic materials company’s stock. Evercore ISI’s price objective points to a potential upside of 5.71% from the company’s previous close.

ASH has been the subject of several other research reports. UBS Group decreased their price target on Ashland from $73.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on shares of Ashland from $60.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, September 2nd. Morgan Stanley initiated coverage on shares of Ashland in a research note on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price objective on the stock. Wall Street Zen downgraded shares of Ashland from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Company dropped their target price on shares of Ashland from $52.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.38.

Ashland Trading Up 0.5%

NYSE:ASH traded up $0.25 during mid-day trading on Tuesday, hitting $50.14. 19,055 shares of the company’s stock were exchanged, compared to its average volume of 651,647. The company has a 50 day simple moving average of $50.19 and a 200-day simple moving average of $51.26. The firm has a market capitalization of $2.29 billion, a P/E ratio of -2.68, a PEG ratio of 11.41 and a beta of 0.49. Ashland has a fifty-two week low of $45.21 and a fifty-two week high of $80.94. The company has a current ratio of 2.68, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. The company had revenue of $509.00 million for the quarter. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. Ashland has set its FY 2022 guidance at EPS. As a group, research analysts expect that Ashland will post 4.27 earnings per share for the current year.

Institutional Trading of Ashland

Several large investors have recently made changes to their positions in ASH. Rothschild Investment LLC increased its position in Ashland by 3,673.3% in the 3rd quarter. Rothschild Investment LLC now owns 566 shares of the basic materials company’s stock valued at $27,000 after buying an additional 551 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Ashland by 59.0% during the second quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 249 shares in the last quarter. Abound Wealth Management acquired a new position in shares of Ashland during the second quarter worth approximately $40,000. Allworth Financial LP raised its position in shares of Ashland by 63.9% during the first quarter. Allworth Financial LP now owns 834 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 325 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Ashland by 93.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,155 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 558 shares in the last quarter. 93.95% of the stock is currently 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.