Ashland (NYSE:ASH) Downgraded by StockNews.com

StockNews.com downgraded shares of Ashland (NYSE:ASH) from a buy rating to a hold rating in a research report released on Friday.

Several other research analysts have also recently commented on ASH. UBS Group reduced their target price on shares of Ashland from $116.00 to $107.00 and set a buy rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. raised Ashland from an underweight rating to a neutral rating and lowered their target price for the company from $90.00 to $89.00 in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price target on Ashland from $112.00 to $100.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets lowered their price target on Ashland from $105.00 to $92.00 and set a market perform rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ashland currently has an average rating of Moderate Buy and an average target price of $103.50.

Ashland Price Performance

Shares of NYSE ASH opened at $87.00 on Friday. The company has a fifty day moving average price of $89.79 and a 200 day moving average price of $94.24. Ashland has a 1-year low of $70.82 and a 1-year high of $102.50. The firm has a market cap of $4.36 billion, a PE ratio of 23.08, a PEG ratio of 1.04 and a beta of 0.88. The company has a current ratio of 2.98, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45.

Ashland (NYSE:ASH) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Ashland had a return on equity of 5.98% and a net margin of 7.01%. The business had revenue of $544.00 million during the quarter, compared to the consensus estimate of $577.08 million. During the same period last year, the company earned $1.23 earnings per share. Ashland’s quarterly revenue was down .4% on a year-over-year basis. Research analysts predict that Ashland will post 4.55 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, August 30th. Ashland’s dividend payout ratio (DPR) is presently 42.97%.

Hedge Funds Weigh In On Ashland

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 153 shares during the last quarter. Quest Partners LLC lifted its position in Ashland by 8,211.1% during the second quarter. Quest Partners LLC now owns 748 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 739 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Ashland during the second quarter worth approximately $71,000. Neo Ivy Capital Management acquired a new position in shares of Ashland in the fourth quarter valued at approximately $67,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Ashland by 143.7% during the fourth quarter. Quadrant Capital Group LLC now owns 809 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 477 shares during the period. 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.