Ashland Global (NYSE:ASH) PT Raised to $88.00

Ashland Global (NYSE:ASH) had its price target upped by equities research analysts at Monness Crespi & Hardt from $80.00 to $88.00 in a report released on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Monness Crespi & Hardt’s target price points to a potential upside of 16.59% from the stock’s previous close.

A number of other analysts have also weighed in on ASH. BMO Capital Markets raised shares of Ashland Global from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $87.00 to $75.00 in a research report on Monday, April 13th. SunTrust Banks increased their price objective on shares of Ashland Global from $75.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Co increased their price objective on shares of Ashland Global from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Credit Suisse Group restated a “buy” rating and issued a $91.00 target price on shares of Ashland Global in a research note on Tuesday. Finally, UBS Group raised their target price on shares of Ashland Global from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ashland Global currently has a consensus rating of “Buy” and a consensus price target of $82.60.

Shares of ASH opened at $75.48 on Thursday. The firm has a market cap of $4.55 billion, a PE ratio of -42.89, a P/E/G ratio of 2.76 and a beta of 1.46. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $70.93 and a two-hundred day simple moving average of $66.29. Ashland Global has a 1-year low of $38.88 and a 1-year high of $81.82.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $574.61 million. Ashland Global had a positive return on equity of 4.79% and a negative net margin of 4.39%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. As a group, research analysts forecast that Ashland Global will post 2.55 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Eudaimonia Partners LLC purchased a new position in shares of Ashland Global during the first quarter worth $25,000. CWM Advisors LLC purchased a new position in Ashland Global in the first quarter valued at $31,000. Synovus Financial Corp purchased a new position in Ashland Global in the first quarter valued at $40,000. Rockefeller Capital Management L.P. purchased a new position in Ashland Global in the first quarter valued at $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Ashland Global by 180.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,073 shares of the basic materials company’s stock valued at $54,000 after buying an additional 691 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

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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