Ashland Global Holdings Inc. (NYSE:ASH)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a research note issued to investors on Sunday, July 30th. They currently have a $74.00 price target on the basic materials company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 21.35% from the company’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine upgraded Ashland Global Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. TheStreet upgraded Ashland Global Holdings from a “c+” rating to a “b” rating in a report on Wednesday, April 26th. J P Morgan Chase & Co lifted their target price on Ashland Global Holdings from $61.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, May 31st. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $65.00 target price (up from $59.69) on shares of Ashland Global Holdings in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $88.33.
Shares of Ashland Global Holdings (NYSE:ASH) traded up 0.25% during mid-day trading on Friday, hitting $60.98. The stock had a trading volume of 632,318 shares. The stock’s 50-day moving average is $64.46 and its 200-day moving average is $62.47. The firm’s market capitalization is $3.81 billion. Ashland Global Holdings has a 1-year low of $59.80 and a 1-year high of $128.19.
Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a positive return on equity of 10.62% and a negative net margin of 4.71%. The company had revenue of $870 million during the quarter, compared to the consensus estimate of $842.78 million. During the same period last year, the company earned $1.95 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts expect that Ashland Global Holdings will post $4.49 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its stake in Ashland Global Holdings by 40.9% in the second quarter. Toronto Dominion Bank now owns 170,000 shares of the basic materials company’s stock valued at $11,203,000 after buying an additional 49,320 shares in the last quarter. WINTON GROUP Ltd increased its stake in Ashland Global Holdings by 350.1% in the second quarter. WINTON GROUP Ltd now owns 134,974 shares of the basic materials company’s stock valued at $8,896,000 after buying an additional 104,988 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Ashland Global Holdings by 15.6% in the second quarter. Public Employees Retirement System of Ohio now owns 26,719 shares of the basic materials company’s stock valued at $1,761,000 after buying an additional 3,611 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Ashland Global Holdings by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 29,122 shares of the basic materials company’s stock valued at $1,919,000 after buying an additional 281 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in Ashland Global Holdings by 0.4% in the second quarter. Bank of Nova Scotia now owns 200,700 shares of the basic materials company’s stock valued at $13,228,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 95.42% of the company’s stock.
Ashland Global Holdings Company Profile
Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.
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