Credit Suisse Group Boosts Ashland Global (ASH) Price Target to $97.00

Ashland Global (NYSE:ASH) had its price objective hoisted by Credit Suisse Group from $95.00 to $97.00 in a research report released on Thursday. Credit Suisse Group currently has an outperform rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. KeyCorp restated a buy rating and issued a $93.00 price target on shares of Ashland Global in a research note on Thursday, August 2nd. SunTrust Banks restated a buy rating and issued a $90.00 price target on shares of Ashland Global in a research note on Friday, July 20th. UBS Group raised their price target on Ashland Global from $93.00 to $96.00 and gave the company a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded Ashland Global from a buy rating to a hold rating in a research note on Tuesday, August 28th. Finally, JPMorgan Chase & Co. raised their price target on Ashland Global from $81.00 to $87.00 and gave the company a neutral rating in a research note on Friday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $91.56.

Shares of NYSE:ASH traded down $0.20 during mid-day trading on Thursday, reaching $83.63. 1,421,100 shares of the stock were exchanged, compared to its average volume of 760,936. 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 company has a market cap of $4.86 billion, a PE ratio of 23.36, a PEG ratio of 1.97 and a beta of 1.28. Ashland Global has a one year low of $64.81 and a one year high of $86.63.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $926.50 million. Ashland Global had a return on equity of 6.69% and a net margin of 3.05%. Ashland Global’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, research analysts predict that Ashland Global will post 4.3 earnings per share for the current fiscal year.

In other Ashland Global news, VP Keith C. Silverman sold 2,286 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total value of $193,647.06. Following the completion of the transaction, the vice president now directly owns 4,183 shares in the company, valued at $354,341.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Ashland Global by 0.5% during the 3rd quarter. BlackRock Inc. now owns 5,452,799 shares of the basic materials company’s stock worth $457,271,000 after acquiring an additional 26,295 shares during the period. Schroder Investment Management Group boosted its stake in shares of Ashland Global by 0.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,454,873 shares of the basic materials company’s stock worth $113,596,000 after acquiring an additional 4,458 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ashland Global by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,628 shares of the basic materials company’s stock worth $100,745,000 after acquiring an additional 42,954 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ashland Global by 11.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,036,595 shares of the basic materials company’s stock worth $86,929,000 after acquiring an additional 109,300 shares during the period. Finally, Naya Capital Management UK Ltd. boosted its stake in shares of Ashland Global by 25.6% during the 2nd quarter. Naya Capital Management UK Ltd. now owns 658,514 shares of the basic materials company’s stock worth $51,483,000 after acquiring an additional 134,200 shares during the period. Institutional investors own 93.25% of the company’s stock.

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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