Zacks Investment Research upgraded shares of Ashland Global Holdings Inc. (NYSE:ASH) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $74.00 target price on the basic materials company’s stock.
According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “
Several other equities analysts also recently weighed in on the company. TheStreet raised Ashland Global Holdings from a c rating to a b+ rating in a research note on Friday, June 16th. ValuEngine raised Ashland Global Holdings from a hold rating to a buy rating in a research report on Tuesday, May 16th. Credit Suisse Group set a $122.00 price target on Ashland Global Holdings and gave the stock a hold rating in a research report on Thursday, April 27th. Jefferies Group LLC reissued a buy rating and set a $139.00 price target on shares of Ashland Global Holdings in a research report on Friday, March 31st. Finally, J P Morgan Chase & Co raised their price target on Ashland Global Holdings from $61.00 to $118.00 and gave the stock a neutral rating in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $104.20.
Shares of Ashland Global Holdings (NYSE ASH) opened at 65.71 on Wednesday. The firm’s market capitalization is $4.09 billion. Ashland Global Holdings has a 52 week low of $60.27 and a 52 week high of $128.19. The stock has a 50 day moving average price of $65.72 and a 200-day moving average price of $60.10.
Ashland Global Holdings (NYSE:ASH) last released its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. Ashland Global Holdings had a positive return on equity of 13.53% and a negative net margin of 2.26%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.83 EPS. On average, analysts anticipate that Ashland Global Holdings will post $4.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.225 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.37%. Ashland Global Holdings’s dividend payout ratio is presently -48.13%.
In other news, VP Anne T. Schumann sold 4,003 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $125.64, for a total transaction of $502,936.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.27% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new stake in Ashland Global Holdings during the fourth quarter worth $113,000. Bollard Group LLC increased its stake in Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock worth $115,000 after buying an additional 3 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Ashland Global Holdings by 8.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,273 shares of the basic materials company’s stock worth $143,000 after buying an additional 99 shares during the period. Creative Planning increased its stake in Ashland Global Holdings by 0.3% in the first quarter. Creative Planning now owns 1,426 shares of the basic materials company’s stock worth $177,000 after buying an additional 4 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock worth $192,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 89.22% of the company’s stock.
Ashland Global Holdings Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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