Ashland Global Holdings Inc. (NYSE:ASH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Several other equities research analysts also recently issued reports on the stock. UBS AG raised their price objective on shares of Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Credit Suisse Group raised their price objective on shares of Ashland Global Holdings from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Deutsche Bank AG raised their price objective on shares of Ashland Global Holdings from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $74.00 price objective on shares of Ashland Global Holdings in a research report on Friday. Finally, BidaskClub downgraded shares of Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Ashland Global Holdings presently has a consensus rating of “Hold” and an average price target of $81.29.

Shares of Ashland Global Holdings (ASH) traded up $0.93 during trading hours on Monday, reaching $66.01. 637,900 shares of the company traded hands, compared to its average volume of 906,625. Ashland Global Holdings has a twelve month low of $53.41 and a twelve month high of $69.33. The firm has a market cap of $4,119.18, a P/E ratio of 14.73, a P/E/G ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31.

Ashland Global Holdings (NYSE:ASH) last issued its earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million during the quarter, compared to analyst estimates of $869.62 million. During the same quarter last year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. equities research analysts anticipate that Ashland Global Holdings will post 3.43 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. BlackRock Inc. raised its position in shares of Ashland Global Holdings by 5,548.9% in the first quarter. BlackRock Inc. now owns 5,692,080 shares of the basic materials company’s stock valued at $704,736,000 after buying an additional 5,591,315 shares in the last quarter. Evercore Trust Company N.A. raised its position in shares of Ashland Global Holdings by 113.3% in the second quarter. Evercore Trust Company N.A. now owns 2,178,433 shares of the basic materials company’s stock valued at $143,580,000 after buying an additional 1,157,131 shares in the last quarter. OZ Management LP acquired a new stake in shares of Ashland Global Holdings in the third quarter valued at approximately $118,127,000. Ascend Capital LLC acquired a new stake in shares of Ashland Global Holdings in the fourth quarter valued at approximately $90,531,000. Finally, Victory Capital Management Inc. bought a new position in Ashland Global Holdings in the second quarter valued at approximately $54,562,000. Institutional investors own 94.23% 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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Analyst Recommendations for Ashland Global Holdings (NYSE:ASH)

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