Zacks Investment Research Downgrades Ashland Global Holdings Inc. (ASH) to Hold
Ashland Global Holdings Inc. (NYSE:ASH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “
Several other analysts have also weighed in on ASH. BidaskClub lowered Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Jefferies Group LLC reissued a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a report on Sunday, July 30th. TheStreet lowered Ashland Global Holdings from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. Deutsche Bank AG decreased their price objective on Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, UBS AG lifted their price objective on Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $81.29.
Shares of Ashland Global Holdings (NYSE ASH) opened at $66.67 on Monday. Ashland Global Holdings has a fifty-two week low of $53.41 and a fifty-two week high of $69.33. The firm has a market capitalization of $4,187.20, a P/E ratio of 14.98, a PEG ratio of 1.95 and a beta of 1.07. The company has a current ratio of 1.97, a quick ratio of 1.31 and a debt-to-equity ratio of 0.76.
Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to analyst estimates of $869.62 million. During the same period in the previous year, the business posted $1.52 EPS. Ashland Global Holdings’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 3.44 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in Ashland Global Holdings by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after buying an additional 101 shares in the last quarter. World Asset Management Inc boosted its stake in Ashland Global Holdings by 2.4% in the second quarter. World Asset Management Inc now owns 4,423 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 104 shares in the last quarter. Aviva PLC boosted its stake in Ashland Global Holdings by 0.3% in the second quarter. Aviva PLC now owns 38,655 shares of the basic materials company’s stock worth $2,548,000 after purchasing an additional 120 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Ashland Global Holdings by 3.4% in the second quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 208 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Ashland Global Holdings by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 29,122 shares of the basic materials company’s stock worth $1,919,000 after purchasing an additional 281 shares in the last quarter. 94.23% of the stock is currently owned by institutional investors and hedge funds.
About Ashland Global Holdings
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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