Ashland Global (NYSE:ASH) Price Target Raised to $80.00

Ashland Global (NYSE:ASH) had its price objective hoisted by Wells Fargo & Co from $75.00 to $80.00 in a research report report published on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

ASH has been the topic of a number of other research reports. Jefferies Financial Group lowered shares of Ashland Global from a buy rating to a hold rating in a report on Monday, March 23rd. BMO Capital Markets raised shares of Ashland Global from a market perform rating to an outperform rating and decreased their price target for the stock from $87.00 to $75.00 in a report on Monday, April 13th. ValuEngine lowered shares of Ashland Global from a buy rating to a hold rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. raised shares of Ashland Global from an underweight rating to a neutral rating and decreased their price target for the stock from $68.00 to $62.00 in a report on Thursday, May 7th. Finally, TheStreet raised shares of Ashland Global from a d+ rating to a c- rating in a report on Thursday, June 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $77.00.

Ashland Global stock opened at $68.14 on Wednesday. The firm’s 50 day simple moving average is $65.69 and its 200 day simple moving average is $66.89. The company has a current ratio of 1.69, a quick ratio of 1.06 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $4.11 billion, a PE ratio of -51.62, a price-to-earnings-growth ratio of 2.93 and a beta of 1.46. Ashland Global has a 1-year low of $38.88 and a 1-year high of $81.82.

Ashland Global (NYSE:ASH) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. The business had revenue of $610.00 million for the quarter, compared to analyst estimates of $618.75 million. Ashland Global had a negative net margin of 3.05% and a positive return on equity of 4.63%. Ashland Global’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. Research analysts forecast that Ashland Global will post 2.17 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.275 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.61%. Ashland Global’s dividend payout ratio (DPR) is 44.00%.

Several institutional investors have recently made changes to their positions in ASH. Eudaimonia Partners LLC purchased a new stake in shares of Ashland Global in the 1st quarter valued at $25,000. Orion Portfolio Solutions LLC purchased a new stake in Ashland Global during the 4th quarter valued at $29,000. CWM Advisors LLC purchased a new stake in Ashland Global during the 1st quarter valued at $31,000. Synovus Financial Corp purchased a new stake in Ashland Global during the 1st quarter valued at $40,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Ashland Global during the 1st quarter valued at $44,000. 92.49% of the stock is owned by institutional investors.

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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