Brokerages Set Ashland Global Holdings Inc (NYSE:ASH) Price Target at $87.71

Ashland Global Holdings Inc (NYSE:ASH) has been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $87.71.

Several analysts have recently weighed in on the stock. Buckingham Research lifted their target price on shares of Ashland Global from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. SunTrust Banks lowered their target price on shares of Ashland Global from $95.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. They noted that the move was a valuation call. Monness Crespi & Hardt raised shares of Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Monday, October 14th. Finally, ValuEngine downgraded shares of Ashland Global from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

NYSE ASH traded down $0.27 during trading on Monday, reaching $76.14. The company’s stock had a trading volume of 173,347 shares, compared to its average volume of 402,689. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.43 and a current ratio of 2.02. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 2.10 and a beta of 1.27. Ashland Global has a twelve month low of $64.93 and a twelve month high of $84.81. The business’s fifty day moving average price is $76.23 and its 200-day moving average price is $76.51.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $641.00 million for the quarter, compared to analyst estimates of $640.29 million. Ashland Global had a net margin of 3.63% and a return on equity of 5.15%. Ashland Global’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, sell-side analysts forecast that Ashland Global will post 2.71 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Eminence Capital LP purchased a new stake in shares of Ashland Global in the second quarter valued at about $413,763,000. Diamond Hill Capital Management Inc. purchased a new stake in Ashland Global during the second quarter worth about $110,163,000. Schroder Investment Management Group boosted its holdings in Ashland Global by 9.0% during the second quarter. Schroder Investment Management Group now owns 993,030 shares of the basic materials company’s stock worth $79,413,000 after buying an additional 81,913 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Ashland Global by 5.1% during the second quarter. Pictet Asset Management Ltd. now owns 952,925 shares of the basic materials company’s stock worth $76,205,000 after buying an additional 45,833 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Ashland Global by 3.0% during the second quarter. Victory Capital Management Inc. now owns 946,775 shares of the basic materials company’s stock worth $75,714,000 after buying an additional 27,955 shares in the last quarter. 95.89% of the stock is currently owned by institutional investors and hedge funds.

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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