Mizuho Increases Ashland (NYSE:ASH) Price Target to $110.00

Ashland (NYSE:ASH) had its price target hoisted by Mizuho from $101.00 to $110.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company raised Ashland from an equal weight rating to an overweight rating and upped their price target for the stock from $100.00 to $112.00 in a research report on Thursday, April 11th. Jefferies Financial Group raised Ashland from a hold rating to a buy rating and upped their price target for the stock from $100.00 to $126.00 in a research report on Thursday, March 14th. Wolfe Research initiated coverage on Ashland in a research report on Friday, March 1st. They set an outperform rating and a $108.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Ashland from $70.00 to $88.00 and gave the stock an underweight rating in a research report on Thursday, February 1st. Finally, StockNews.com raised Ashland from a sell rating to a hold rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $103.11.

Ashland Stock Up 0.1 %

Ashland stock opened at $95.85 on Wednesday. The business has a fifty day moving average of $95.62 and a two-hundred day moving average of $86.92. The company has a quick ratio of 1.88, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.80 billion, a P/E ratio of 25.42 and a beta of 0.92. Ashland has a twelve month low of $70.82 and a twelve month high of $99.55.

Ashland (NYSE:ASH) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.13. The company had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. Ashland had a return on equity of 5.57% and a net margin of 9.09%. Ashland’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, analysts forecast that Ashland will post 4.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ashland

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 153 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Ashland during the 4th quarter worth about $28,000. Hexagon Capital Partners LLC boosted its stake in shares of Ashland by 143.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 223 shares in the last quarter. Covestor Ltd boosted its stake in shares of Ashland by 338.0% during the 3rd quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 311 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Ashland by 163.7% during the 4th quarter. CWM LLC now owns 559 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

About Ashland

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.