Ashland (NYSE:ASH) Rating Increased to Buy at StockNews.com

Ashland (NYSE:ASH) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on shares of Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, UBS Group decreased their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Ashland Price Performance

ASH stock traded down $6.88 during trading on Wednesday, hitting $64.29. The stock had a trading volume of 1,702,748 shares, compared to its average volume of 554,322. The company’s 50-day moving average price is $73.16 and its two-hundred day moving average price is $82.09. Ashland has a twelve month low of $63.93 and a twelve month high of $102.50. The stock has a market capitalization of $3.03 billion, a P/E ratio of 19.19, a PEG ratio of 1.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts predict that Ashland will post 4.31 EPS for the current fiscal year.

Insider Activity at Ashland

In other news, VP Eric N. Boni sold 451 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now directly owns 14,182 shares in the company, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Ashland

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its stake in shares of Ashland by 105.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock worth $8,513,000 after acquiring an additional 61,058 shares during the period. Edgestream Partners L.P. acquired a new stake in Ashland in the third quarter worth approximately $3,134,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ashland by 138.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after purchasing an additional 70,145 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ashland by 66.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock valued at $14,752,000 after purchasing an additional 67,980 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Ashland by 703.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after buying an additional 161,812 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors and hedge funds.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.