Ashland Director Unloads $1,389,848 in Stock (ASH)
Ashland (NYSE:ASH) Director Michael J. Ward sold 12,912 shares of Ashland stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $107.64, for a total value of $1,389,847.68. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $107,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Ashland (NYSE:ASH) traded up 0.09% during mid-day trading on Wednesday, hitting $108.05. 817,483 shares of the company’s stock traded hands. Ashland has a one year low of $84.43 and a one year high of $110.02. The stock has a 50-day moving average of $105.5 and a 200-day moving average of $102.0. The company has a market cap of $8.434 billion and a P/E ratio of 14.92. Ashland also saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 6,480,324 shares, a growth of 1,452.6% from the July 31st total of 417,393 shares. Currently, 8.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,428,285 shares, the short-interest ratio is currently 4.5 days.
Ashland (NYSE:ASH) last announced its earnings results on Thursday, July 31st. The company reported $1.63 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.66 earnings per share. On average, analysts predict that Ashland will post $6.04 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Ashland from $118.00 to $123.00 in a research note on Monday, August 18th. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Ashland in a research note on Monday, August 11th. Finally, 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $120.00.
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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