Ashland Global Holdings Inc (ASH) Receives Average Recommendation of “Buy” from Analysts

Shares of Ashland Global Holdings Inc (NYSE:ASH) have been assigned an average rating of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $89.65.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Credit Suisse Group set a $97.00 price objective on shares of Ashland Global and gave the company a “buy” rating in a report on Friday, December 14th. Buckingham Research began coverage on shares of Ashland Global in a research report on Monday, December 17th. They issued a “neutral” rating for the company. Deutsche Bank reduced their target price on shares of Ashland Global from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. raised shares of Ashland Global from a “neutral” rating to an “overweight” rating and set a $68.23 target price for the company in a research report on Thursday, December 27th.

In other news, insider Osama M. Musa sold 2,156 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $78.87, for a total value of $170,043.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.

Several institutional investors have recently made changes to their positions in ASH. Norges Bank bought a new stake in Ashland Global during the fourth quarter worth about $30,610,000. Millennium Management LLC lifted its position in Ashland Global by 1,099.1% during the fourth quarter. Millennium Management LLC now owns 464,606 shares of the basic materials company’s stock worth $32,968,000 after purchasing an additional 425,860 shares during the period. Naya Capital Management UK Ltd. lifted its position in Ashland Global by 62.9% during the fourth quarter. Naya Capital Management UK Ltd. now owns 1,097,953 shares of the basic materials company’s stock worth $77,911,000 after purchasing an additional 424,139 shares during the period. WINTON GROUP Ltd lifted its position in Ashland Global by 95.2% during the fourth quarter. WINTON GROUP Ltd now owns 488,119 shares of the basic materials company’s stock worth $34,637,000 after purchasing an additional 238,076 shares during the period. Finally, Exane Asset Management bought a new stake in Ashland Global during the third quarter worth about $17,937,000. 92.46% of the stock is owned by institutional investors.

Shares of NYSE:ASH traded down $0.47 on Friday, hitting $78.30. The company had a trading volume of 583,304 shares, compared to its average volume of 736,539. Ashland Global has a 1-year low of $64.81 and a 1-year high of $86.63. The company has a market cap of $4.93 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.20 and a quick ratio of 1.51.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Ashland Global had a net margin of 2.01% and a return on equity of 6.17%. The firm had revenue of $576.00 million for the quarter, compared to the consensus estimate of $585.78 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts expect that Ashland Global will post 3.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. Ashland Global’s payout ratio is presently 27.93%.

About Ashland Global

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

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Analyst Recommendations for Ashland Global (NYSE:ASH)

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