Ashland Inc. (NYSE:ASH) Receives $85.40 Consensus Target Price from Brokerages

Ashland Inc. (NYSE:ASH) has received an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $85.40.

Several research firms have issued reports on ASH. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $71.00 in a report on Wednesday, March 26th. UBS Group decreased their price target on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Ashland from $80.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, BMO Capital Markets raised their target price on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th.

Insider Transactions at Ashland

In related news, CEO Guillermo Novo purchased 31,294 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by insiders.

Institutional Trading of Ashland

A number of institutional investors have recently bought and sold shares of ASH. Versant Capital Management Inc bought a new stake in Ashland in the fourth quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in Ashland during the third quarter valued at about $38,000. Atala Financial Inc bought a new stake in shares of Ashland during the 4th quarter worth about $56,000. Covestor Ltd boosted its stake in shares of Ashland by 80.6% during the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 428 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Ashland by 84.1% during the 4th quarter. Assetmark Inc. now owns 994 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 454 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Price Performance

Shares of Ashland stock opened at $53.06 on Tuesday. Ashland has a 52 week low of $52.98 and a 52 week high of $102.50. The company has a current ratio of 2.52, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.50 billion, a PE ratio of -80.39, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company’s 50-day moving average price is $61.35 and its two-hundred day moving average price is $72.92.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Ashland will post 4.27 EPS for the current fiscal year.

Ashland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.405 per share. The ex-dividend date was Friday, February 28th. This represents a $1.62 annualized dividend and a yield of 3.05%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

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.