Ashland Global (NYSE:ASH) had its price objective upped by SunTrust Banks to $83.00 in a research report released on Friday morning. SunTrust Banks currently has a buy rating on the basic materials company’s stock.
Several other research firms have also issued reports on ASH. Zacks Investment Research raised Ashland Global from a hold rating to a buy rating and set a $75.00 price objective for the company in a research note on Tuesday, October 24th. Credit Suisse Group raised their price target on Ashland Global from $65.00 to $69.00 and gave the stock a neutral rating in a research note on Wednesday, November 8th. Jefferies Group reissued a buy rating and set a $74.00 price target on shares of Ashland Global in a research note on Sunday, September 3rd. BidaskClub lowered Ashland Global from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Finally, UBS raised their price target on Ashland Global from $74.00 to $78.00 and gave the stock a buy rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $82.57.
Ashland Global (NYSE ASH) traded down $0.48 during trading hours on Friday, hitting $73.50. The stock had a trading volume of 1,301,814 shares, compared to its average volume of 784,794. The company has a market cap of $4,597.31, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.17 and a beta of 1.09. Ashland Global has a 1-year low of $53.79 and a 1-year high of $74.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31.
Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million during the quarter, compared to the consensus estimate of $869.62 million. Ashland Global’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. analysts expect that Ashland Global will post 3.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 30th. Ashland Global’s dividend payout ratio is currently -9,000,000.00%.
In related news, insider Peter Ganz sold 3,379 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO J Kevin Willis sold 916 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $70.61, for a total value of $64,678.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,342 shares of company stock valued at $1,148,839 over the last three months. 1.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning raised its position in Ashland Global by 7.1% during the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 101 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in Ashland Global by 600.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 1,999 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in Ashland Global during the 3rd quarter valued at $234,000. Sciencast Management LP bought a new stake in Ashland Global during the 2nd quarter valued at $271,000. Finally, Trexquant Investment LP bought a new stake in Ashland Global during the 2nd quarter valued at $290,000. 91.11% of the stock is owned by institutional investors and hedge funds.
About Ashland Global
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.
Receive News & Ratings for Ashland Global Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.