BMO Capital Markets Lowers Ashland Global (NYSE: ASH) Target Price to $ 110.00
Ashland Global (NYSE: ASH) had its target price lowered by BMO Capital Markets research analysts from $ 113.00 to $ 110.00 in a research note released Wednesday, Fly reports. The company currently has an “outperformance” rating on the stocks of the basic materials company. BMO Capital Markets’ target price would suggest a potential rise of 23.64% from the company’s current price.
ASH has been the subject of several other research reports. Stifel Nicolaus began covering shares of Ashland Global in a report on Thursday, June 17. They issued a âbuyâ note and a target price of $ 118.00 on the stock. JPMorgan Chase & Co. upgraded Ashland Global to a âholdâ rating and set a target price of $ 90.00 for the company in a research note on Thursday August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Ashland Global from $ 115.00 to $ 110.00 and set a “buy” rating on the stock in a report released Tuesday. Two research analysts rated the stock with a conservation rating and five issued a buy rating for the company. According to data from MarketBeat.com, the company currently has an average rating of âBuyâ and a consensus target price of $ 103.43.
NYSE ASH traded at $ 0.34 at midday on Wednesday, reaching $ 88.97. 4,691 shares were traded, for an average volume of 455,063. The company has a leverage ratio of 0.49, a current ratio of 2.05 and a quick ratio of 1.19. The stock has a 50-day simple moving average of $ 88.06 and a 200-day simple moving average of $ 88.97. The stock has a market cap of $ 5.40 billion, a P / E ratio of 30.45 and a beta of 1.28. Ashland Global has a one-year low of $ 68.17 and a one-year high of $ 95.96.
Ashland Global (NYSE: ASH) last reported its quarterly results on Monday, July 26. The basic materials company reported earnings per share (EPS) of $ 1.22 for the quarter, missing Zacks’ consensus estimate of $ 1.29 of ($ 0.07). The company posted revenue of $ 637.00 million in the quarter, compared to analysts’ expectations of $ 635.39 million. Ashland Global had a net margin of 7.60% and a return on equity of 7.72%. Ashland Global’s revenue for the quarter increased 11.0% year-over-year. During the same period last year, the company posted EPS of $ 0.84. Sell-side analysts predict Ashland Global will post an EPS of 4.64 for the current fiscal year.
In other Ashland Global news, CFO J Kevin Willis sold 1,104 shares of the company in a trade dated Friday, September 10. The shares were sold for an average price of $ 94.30, for a total value of $ 104,107.20. The transaction has been disclosed in a legal file with the SEC, which is available through this hyperlink. Company insiders own 10.08% of the company’s shares.
Large investors recently changed their holdings of stocks. Great West Life Assurance Co. Can increased its stake in Ashland Global by 0.8% during the second quarter. Great West Life Assurance Co. Can now owns 21,234 shares of the basic materials company valued at $ 1,858,000 after acquiring 175 additional shares during the period. Eaton Vance Management increased its stake in Ashland Global shares by 4.4% in the 1st quarter. Eaton Vance Management now owns 4,802 shares of the basic materials company valued at $ 426,000 after purchasing 202 more shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings of shares of Ashland Global by 6.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,738 shares of the basic materials company valued at $ 332,000 after purchasing an additional 211 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Ashland Global by 1.7% in Q1. Thrivent Financial for Lutherans now owns 14,515 shares of the basic materials company valued at $ 1,288,000 after acquiring an additional 241 shares during the period. Finally, Leisure Capital Management strengthened its position in Ashland Global shares by 2.7% during the first quarter. Leisure Capital Management now owns 11,680 shares of the basic materials company valued at $ 1,037,000 after purchasing an additional 306 shares during the period. Institutional investors hold 93.56% of the shares of the company.
About Ashland Global
Ashland Global Holdings, Inc. is a global specialty chemicals company. The company is engaged in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceuticals. It operates through the following segments: Consumer specialties; Industrial Specialties; and other.
Read more: Bollinger bands
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Ashland Global now?
Before you consider Ashland Global, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of … and Ashland Global was not on the list.
While Ashland Global currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here