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Stock analysts at Argus raised their target price on shares of Ashland (NYSE:ASH) from $118.00 to $123.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock. Argus’ target price would indicate a potential upside of 17.41% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Ashland in a research note on Monday, August 11th. Separately, analysts at Goldman Sachs initiated coverage on shares of Ashland in a research note on Thursday, July 24th. They set a “conviction-buy” rating on the stock. Finally, analysts at ISI Group upgraded shares of Ashland from a “hold” rating to a “buy” rating in a research note on Monday, June 23rd. They now have a $136.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.00.

Shares of Ashland (NYSE:ASH) opened at 104.76 on Monday. Ashland has a 52 week low of $84.43 and a 52 week high of $110.02. The stock has a 50-day moving average of $105.9 and a 200-day moving average of $100.7. The company has a market cap of $8.177 billion and a price-to-earnings ratio of 14.51. Ashland also was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 417,393 shares, a decline of 42.3% from the July 15th total of 723,551 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 595,918 shares, the days-to-cover ratio is presently 0.7 days.

Ashland (NYSE:ASH) last announced its earnings results on Thursday, July 31st. The company reported $1.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.57 by $0.06. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. On average, analysts predict that Ashland will post $6.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, August 13th.

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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