Ashland (NYSE:ASH) Raised to “Overweight” at JPMorgan Chase & Co.

Ashland (NYSE:ASH) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $71.00 target price on the basic materials company’s stock, up from their previous target price of $68.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.61% from the stock’s current price.

A number of other research analysts also recently weighed in on ASH. Wells Fargo & Company cut their price target on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. UBS Group dropped their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets upped their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Finally, Seaport Res Ptn downgraded shares of Ashland from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ashland presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Ashland Price Performance

Ashland stock opened at $56.98 on Wednesday. The business’s 50-day simple moving average is $63.22 and its 200 day simple moving average is $74.09. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -86.33, a P/E/G ratio of 1.14 and a beta of 0.89. Ashland has a 12-month low of $54.86 and a 12-month high of $102.50.

Ashland (NYSE:ASH) last issued its 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 negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that Ashland will post 4.27 earnings per share for the current year.

Insider Activity

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the purchase, the chief executive officer now owns 31,294 shares in the company, valued at $2,010,326.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock worth $8,513,000 after acquiring an additional 61,058 shares during the period. Edgestream Partners L.P. bought a new position in Ashland during the 3rd quarter worth about $3,134,000. Bank of New York Mellon Corp raised its stake in shares of Ashland by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 517,266 shares of the basic materials company’s stock valued at $36,964,000 after purchasing an additional 7,709 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ashland by 138.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after purchasing an additional 70,145 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ashland by 66.9% in the third quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock valued at $14,752,000 after purchasing an additional 67,980 shares in the last quarter. Institutional investors own 93.95% of the company’s stock.

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.