Ashland Global (ASH) Downgraded by TheStreet

TheStreet cut shares of Ashland Global (NYSE:ASH) from a b rating to a c+ rating in a research report sent to investors on Wednesday morning.

Several other analysts have also recently commented on the company. Credit Suisse Group raised their target price on Ashland Global from $95.00 to $97.00 and gave the stock an outperform rating in a research report on Thursday. Zacks Investment Research cut Ashland Global from a hold rating to a strong sell rating in a research report on Tuesday, October 9th. UBS Group raised their target price on Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. raised their target price on Ashland Global from $81.00 to $87.00 and gave the stock a neutral rating in a research report on Friday, August 24th. Finally, KeyCorp reaffirmed a buy rating and issued a $93.00 target price on shares of Ashland Global in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Ashland Global has an average rating of Buy and a consensus target price of $91.56.

Shares of NYSE ASH opened at $83.63 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.37 and a current ratio of 2.25. The firm has a market capitalization of $4.86 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.97 and a beta of 1.28. Ashland Global has a 52-week low of $64.81 and a 52-week high of $86.63.

Ashland Global (NYSE:ASH) last issued its earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.97. The business had revenue of $956.00 million for the quarter, compared to analysts’ expectations of $926.50 million. Ashland Global had a return on equity of 6.69% and a net margin of 3.05%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. As a group, research analysts expect that Ashland Global will post 4.3 EPS for the current fiscal year.

In related news, VP Keith C. Silverman sold 2,286 shares of Ashland Global stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total transaction of $193,647.06. Following the completion of the sale, the vice president now owns 4,183 shares of the company’s stock, valued at $354,341.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.14% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASH. Royal Bank of Canada boosted its position in Ashland Global by 33.8% during the first quarter. Royal Bank of Canada now owns 6,078 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 1,536 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ashland Global by 2.5% during the first quarter. Principal Financial Group Inc. now owns 271,009 shares of the basic materials company’s stock valued at $18,914,000 after purchasing an additional 6,573 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Ashland Global by 40.1% during the second quarter. State of Alaska Department of Revenue now owns 6,810 shares of the basic materials company’s stock valued at $532,000 after purchasing an additional 1,950 shares during the last quarter. Leavell Investment Management Inc. boosted its position in Ashland Global by 15.0% during the second quarter. Leavell Investment Management Inc. now owns 11,850 shares of the basic materials company’s stock valued at $926,000 after purchasing an additional 1,550 shares during the last quarter. Finally, BP PLC acquired a new stake in Ashland Global during the second quarter valued at $625,000. 93.25% of the stock is owned by hedge funds and other institutional investors.

About Ashland Global

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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Analyst Recommendations for Ashland Global (NYSE:ASH)

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