Ashland (NYSE:ASH) Price Target Lowered to $68.00 at JPMorgan Chase & Co.

Ashland (NYSE:ASH) had its target price cut by equities researchers at JPMorgan Chase & Co. from $81.00 to $68.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.61% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets upped their target price on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, UBS Group decreased their target price 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.57.

Ashland Stock Up 0.3 %

Shares of Ashland stock traded up $0.22 during trading on Thursday, reaching $64.39. The company had a trading volume of 231,198 shares, compared to its average volume of 532,785. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44. The firm’s fifty day moving average is $73.16 and its 200-day moving average is $82.09. Ashland has a fifty-two week low of $62.84 and a fifty-two week high of $102.50. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87.

Ashland (NYSE:ASH) last announced its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (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 quarter last year, the company posted $0.45 EPS. On average, analysts anticipate that Ashland will post 4.31 EPS for the current year.

Insider Transactions at Ashland

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

Institutional Investors Weigh In On Ashland

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Equitable Trust Co. raised its holdings in Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock valued at $559,000 after buying an additional 141 shares during the last quarter. Raymond James Trust N.A. increased its stake in Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 163 shares in the last quarter. Creative Planning raised its stake in Ashland by 3.8% during the 2nd quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock worth $460,000 after buying an additional 176 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Ashland by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 182 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Ashland by 16.5% in the third quarter. Central Pacific Bank Trust Division now owns 1,677 shares of the basic materials company’s stock valued at $146,000 after buying an additional 237 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.