Ashland Global Holdings Inc (NYSE:ASH) Given Consensus Rating of “Buy” by Brokerages

Ashland Global Holdings Inc (NYSE:ASH) has been given an average rating of “Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $90.86.

ASH has been the topic of a number of research analyst reports. TheStreet raised Ashland Global from a “c+” rating to a “b” rating in a report on Wednesday, May 1st. Zacks Investment Research cut Ashland Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. ValuEngine cut Ashland Global from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, JPMorgan Chase & Co. cut Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 price target on the stock. in a report on Friday, June 14th. They noted that the move was a valuation call.

In other news, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.49, for a total transaction of $572,566.47. Following the sale, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $501,025.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Ganz sold 1,562 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.32, for a total value of $116,087.84. Following the sale, the insider now directly owns 40,150 shares in the company, valued at $2,983,948. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,065 shares of company stock worth $1,189,252. 1.14% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Cerebellum GP LLC lifted its holdings in shares of Ashland Global by 19.2% in the 1st quarter. Cerebellum GP LLC now owns 4,342 shares of the basic materials company’s stock worth $339,000 after buying an additional 699 shares during the period. Marshall Wace North America L.P. lifted its stake in shares of Ashland Global by 179.2% during the 1st quarter. Marshall Wace North America L.P. now owns 457,012 shares of the basic materials company’s stock worth $35,706,000 after purchasing an additional 293,352 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Ashland Global by 563.6% during the 1st quarter. Marshall Wace LLP now owns 214,476 shares of the basic materials company’s stock worth $16,757,000 after purchasing an additional 182,154 shares during the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Ashland Global during the 1st quarter worth $73,000. Finally, Neuberger Berman Group LLC raised its stake in Ashland Global by 38.7% in the first quarter. Neuberger Berman Group LLC now owns 2,400,155 shares of the basic materials company’s stock valued at $187,524,000 after buying an additional 669,069 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of ASH stock traded up $0.15 during trading hours on Tuesday, reaching $78.46. 14,986 shares of the company traded hands, compared to its average volume of 929,275. Ashland Global has a 12-month low of $64.93 and a 12-month high of $86.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27. The stock has a market cap of $4.86 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.60 and a beta of 1.27. The stock’s 50-day moving average price is $75.90.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $680.96 million. During the same period in the previous year, the firm earned $1.06 EPS. The business’s quarterly revenue was down 31.5% on a year-over-year basis. Sell-side analysts expect that Ashland Global will post 2.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were issued a $0.275 dividend. The ex-dividend date was Friday, May 31st. This is a boost from Ashland Global’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 1.40%. Ashland Global’s payout ratio is currently 30.73%.

Ashland Global Company Profile

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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