Ashland Global (NYSE:ASH) issued an update on its first quarter 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.54. Ashland Global also updated its FY 2019 guidance to $4.20-4.40 EPS.
Shares of ASH stock traded up $0.78 during midday trading on Tuesday, reaching $77.84. 823,385 shares of the company were exchanged, compared to its average volume of 748,013. Ashland Global has a 12 month low of $64.13 and a 12 month high of $86.63. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.25, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72.
ASH has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Ashland Global from a hold rating to a strong sell rating in a research report on Tuesday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Ashland Global from $81.00 to $87.00 and gave the stock a neutral rating in a research report on Friday, August 24th. Credit Suisse Group set a $95.00 price target on shares of Ashland Global and gave the stock a buy rating in a research report on Friday, September 21st. UBS Group boosted their price target on shares of Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. Finally, KeyCorp restated a buy rating and set a $93.00 price target on shares of Ashland Global in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $90.00.
In related news, VP Keith C. Silverman sold 2,286 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $84.71, for a total value of $193,647.06. Following the sale, the vice president now directly owns 4,183 shares in the company, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.14% of the stock is currently owned by insiders.
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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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