JPMorgan Chase & Co. Upgrades Ashland (NYSE:ASH) to “Overweight”

Ashland (NYSE:ASH) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $71.00 price objective on the basic materials company’s stock, up from their prior price objective of $68.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.94% from the stock’s previous close.

Several other brokerages have also commented on ASH. BMO Capital Markets increased their price objective on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. StockNews.com downgraded Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. UBS Group decreased their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Ashland Trading Down 0.0 %

Shares of NYSE ASH opened at $59.69 on Wednesday. Ashland has a 1-year low of $54.86 and a 1-year high of $102.50. The business has a fifty day moving average price of $62.79 and a 200 day moving average price of $73.89. The stock has a market capitalization of $2.82 billion, a P/E ratio of -90.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27.

Ashland (NYSE:ASH) last released its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the previous year, the business earned $0.45 EPS. Equities research analysts expect that Ashland will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Ashland news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the acquisition, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ashland

Institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. grew its holdings in Ashland by 5.5% during the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 163 shares during the period. Integrated Wealth Concepts LLC boosted its position in Ashland by 6.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 211 shares in the last quarter. Boothbay Fund Management LLC grew its stake in shares of 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 purchasing an additional 284 shares during the period. Xponance Inc. increased its holdings in shares of Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock valued at $401,000 after purchasing an additional 301 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in 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 buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.