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.
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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