Ashland Now Covered by Morgan Stanley (ASH)
Equities researchers at Morgan Stanley started coverage on shares of Ashland (NYSE:ASH) in a research report issued on Thursday, AmericanBankingNews.com reports. The firm set an “equal weight” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group downgraded shares of Ashland from a “buy” rating to a “hold” rating in a research note to investors on Thursday, October 3rd. They now have a $97.00 price target on the stock, down previously from $104.00. Separately, analysts at Zacks upgraded shares of Ashland from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 30th. They now have a $92.30 price target on the stock. Finally, analysts at Monness Crespi & Hardt raised their price target on shares of Ashland from $99.00 to $105.00 in a research note to investors on Wednesday, August 14th. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $93.29.
Shares of Ashland (NYSE:ASH) traded up 1.19% on Thursday, hitting $86.10. The stock had a trading volume of 208,140 shares. Ashland has a 52-week low of $67.16 and a 52-week high of $94.65. The stock has a 50-day moving average of $89.11 and a 200-day moving average of $86.34. The company has a market cap of $6.660 billion and a price-to-earnings ratio of 3403.60.
Ashland (NYSE:ASH) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.66 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.84 by $0.18. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company posted $2.04 earnings per share. Ashland’s revenue was down 3.8% compared to the same quarter last year. On average, analysts predict that Ashland will post $6.13 earnings per share for the current fiscal year.
Ashland Inc (NYSE:ASH) is a global specialty chemical company that provides products, services and solutions throughout a variety of industries.
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