Ashland Global (NYSE:ASH) Lowered to Neutral at JPMorgan Chase & Co.

Ashland Global (NYSE:ASH) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Friday, The Fly reports. The analysts noted that the move was a valuation call.

ASH has been the subject of several other research reports. ValuEngine raised shares of Ashland Global from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, TheStreet downgraded shares of Ashland Global from a “b” rating to a “c” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $89.15.

ASH opened at $80.09 on Friday. The stock has a market capitalization of $4.98 billion, a PE ratio of 22.37, a P/E/G ratio of 2.67 and a beta of 1.27. Ashland Global has a 1-year low of $64.93 and a 1-year high of $86.63. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.68.

Ashland Global (NYSE:ASH) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $680.96 million. Ashland Global had a net margin of 2.30% and a return on equity of 5.79%. The company’s revenue was down 31.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, equities analysts expect that Ashland Global will post 2.98 EPS for the current year.

In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.49, for a total transaction of $572,566.47. Following the completion of the transaction, the insider now directly owns 6,303 shares of the company’s stock, valued at approximately $501,025.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Ganz sold 1,562 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $74.32, for a total transaction of $116,087.84. Following the transaction, the insider now directly owns 40,150 shares of the company’s stock, valued at $2,983,948. The disclosure for this sale can be found here. Insiders have sold a total of 15,065 shares of company stock valued at $1,189,252 over the last three months. 1.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its stake in shares of Ashland Global by 563.6% in the 1st quarter. Marshall Wace LLP now owns 214,476 shares of the basic materials company’s stock worth $16,757,000 after acquiring an additional 182,154 shares during the period. Cerebellum GP LLC lifted its stake in shares of Ashland Global by 19.2% in the 1st quarter. Cerebellum GP LLC now owns 4,342 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 699 shares during the period. Sandbar Asset Management LLP lifted its stake in shares of Ashland Global by 31.9% in the 1st quarter. Sandbar Asset Management LLP now owns 23,163 shares of the basic materials company’s stock worth $1,810,000 after acquiring an additional 5,600 shares during the period. Jane Street Group LLC acquired a new stake in shares of Ashland Global in the 1st quarter worth approximately $287,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Ashland Global by 16.0% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the basic materials company’s stock worth $2,438,000 after acquiring an additional 4,300 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

About Ashland Global

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.

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