Ashland Global (NYSE:ASH) had its price target hoisted by JPMorgan Chase & Co. from $71.00 to $81.00 in a research report sent to investors on Friday, June 15th. The firm currently has a neutral rating on the basic materials company’s stock.
A number of other analysts have also commented on the company. Longbow Research raised Ashland Global from a neutral rating to a buy rating in a report on Monday, March 26th. Credit Suisse Group set a $79.00 target price on Ashland Global and gave the stock a buy rating in a report on Monday, April 30th. BMO Capital Markets started coverage on Ashland Global in a report on Tuesday, March 27th. They issued an outperform rating and a $82.00 target price for the company. Zacks Investment Research raised Ashland Global from a strong sell rating to a hold rating in a report on Tuesday, April 3rd. Finally, Jefferies Financial Group lifted their target price on Ashland Global to $95.00 and gave the stock a buy rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $82.60.
Shares of ASH opened at $78.51 on Friday. The firm has a market cap of $4.90 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.24 and a beta of 1.17. Ashland Global has a 12 month low of $59.80 and a 12 month high of $80.84. The company has a quick ratio of 1.49, a current ratio of 2.41 and a debt-to-equity ratio of 0.73.
Ashland Global (NYSE:ASH) last announced its quarterly earnings data on Tuesday, May 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.19. The business had revenue of $974.00 million during the quarter, compared to analysts’ expectations of $955.39 million. Ashland Global had a positive return on equity of 5.77% and a negative net margin of 0.62%. During the same quarter in the previous year, the business earned $1.71 earnings per share. analysts forecast that Ashland Global will post 3.51 earnings per share for the current year.
Ashland Global announced that its Board of Directors has approved a stock buyback program on Tuesday, March 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, May 31st. Ashland Global’s payout ratio is currently 40.98%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Ashland Global in the first quarter worth $149,000. Bristol John W & Co. Inc. NY bought a new stake in shares of Ashland Global in the first quarter worth $174,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ashland Global in the fourth quarter worth $203,000. Signition LP bought a new stake in shares of Ashland Global in the first quarter worth $216,000. Finally, Good Life Advisors LLC bought a new stake in shares of Ashland Global in the fourth quarter worth $234,000. 94.71% of the stock is owned by institutional investors.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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