Ashland Global Holdings Inc. (NYSE:ASH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $75.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.86% from the stock’s current price.

According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “

ASH has been the topic of several other research reports. Deutsche Bank AG dropped their price target on shares of Ashland Global Holdings from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. BidaskClub cut shares of Ashland Global Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Ashland Global Holdings in a research report on Sunday, September 3rd. Finally, TheStreet cut shares of Ashland Global Holdings from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Shares of Ashland Global Holdings (NYSE ASH) traded up 1.20% during mid-day trading on Tuesday, hitting $67.65. The stock had a trading volume of 404,718 shares. Ashland Global Holdings has a 1-year low of $59.80 and a 1-year high of $128.19. The firm’s 50 day moving average price is $65.08 and its 200 day moving average price is $64.12. The company’s market cap is $4.22 billion.

Ashland Global Holdings (NYSE:ASH) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The business had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $842.78 million. During the same quarter last year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts predict that Ashland Global Holdings will post $4.39 earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of ASH. United Services Automobile Association bought a new position in shares of Ashland Global Holdings during the 1st quarter worth approximately $414,000. OppenheimerFunds Inc. lifted its position in shares of Ashland Global Holdings by 9.2% during the 1st quarter. OppenheimerFunds Inc. now owns 10,101 shares of the basic materials company’s stock worth $1,251,000 after buying an additional 855 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Ashland Global Holdings by 197.1% during the 1st quarter. Wellington Management Group LLP now owns 5,467 shares of the basic materials company’s stock worth $677,000 after buying an additional 3,627 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Ashland Global Holdings by 73.0% during the 1st quarter. Teachers Advisors LLC now owns 627,148 shares of the basic materials company’s stock worth $77,647,000 after buying an additional 264,733 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Ashland Global Holdings by 5.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,277 shares of the basic materials company’s stock worth $24,797,000 after buying an additional 10,002 shares in the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

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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