Ashland Global (NYSE:ASH) had its price objective upped by SunTrust Banks to $83.00 in a note issued to investors on Friday, December 1st, The Fly reports. The firm currently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ price target points to a potential upside of 18.33% from the company’s current price.
A number of other research analysts have also recently commented on ASH. Jefferies Group reiterated a “buy” rating and set a $77.00 price target (up from $74.00) on shares of Ashland Global in a research report on Tuesday, September 26th. Deutsche Bank cut their target price on shares of Ashland Global from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Ashland Global from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. BidaskClub cut shares of Ashland Global from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, UBS raised their price objective on Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Ashland Global presently has a consensus rating of “Hold” and an average price target of $82.57.
Ashland Global (ASH) traded down $0.42 on Friday, reaching $70.14. 429,200 shares of the company’s stock traded hands, compared to its average volume of 901,127. 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 quick ratio of 1.31 and a current ratio of 1.97. The firm has a market capitalization of $4,364.45, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.
Ashland Global (NYSE:ASH) last posted its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The company had revenue of $880.00 million for the quarter, compared to the consensus estimate of $869.62 million. During the same quarter in the previous year, the company posted $1.52 EPS. Ashland Global’s quarterly revenue was up 16.7% compared to the same quarter last year. analysts forecast that Ashland Global will post 3.42 earnings per share for the current year.
In other news, CFO J Kevin Willis sold 916 shares of the company’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 transaction of $64,678.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Ganz sold 3,379 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $70.63, for a total value of $238,658.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,342 shares of company stock valued at $1,148,839. Corporate insiders own 1.14% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in Ashland Global by 7.1% during the second 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 stake in Ashland Global by 600.3% in the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after buying an additional 1,999 shares during the last quarter. Commonwealth Equity Services Inc purchased a new stake in Ashland Global in the third quarter valued at about $234,000. Sciencast Management LP purchased a new stake in Ashland Global in the second quarter valued at about $271,000. Finally, Trexquant Investment LP purchased a new position in shares of Ashland Global in the second quarter worth about $290,000. 91.82% of the stock is currently owned by institutional investors.
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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.
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