Ashland Inc. (NYSE:ASH) Receives $68.60 Consensus Target Price from Analysts

Ashland Inc. (NYSE:ASH) has been given a consensus rating of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $68.60.

Several equities analysts have commented on ASH shares. UBS Group dropped their target price on Ashland from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company downgraded shares of Ashland from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Ashland from $71.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Mizuho set a $60.00 price target on shares of Ashland in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Institutional Trading of Ashland

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in shares of Ashland by 6.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 211 shares in the last quarter. Boothbay Fund Management LLC increased its stake in Ashland by 5.7% in the fourth quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 284 shares in the last quarter. Xponance Inc. raised its holdings in shares of Ashland by 5.7% during the fourth quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock valued at $401,000 after purchasing an additional 301 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Ashland by 20.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,815 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 303 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Ashland by 10.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock valued at $235,000 after buying an additional 317 shares during the period. Institutional investors own 93.95% of the company’s stock.

Ashland Trading Down 2.1%

ASH opened at $49.14 on Friday. The company has a market cap of $2.25 billion, a P/E ratio of -20.47, a PEG ratio of 1.40 and a beta of 0.52. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $50.77 and its 200-day moving average is $60.28. Ashland has a 1-year low of $45.21 and a 1-year high of $98.99.

Ashland (NYSE:ASH) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.11). The company had revenue of $479.00 million during the quarter, compared to analyst estimates of $514.79 million. Ashland had a negative net margin of 5.74% and a positive return on equity of 7.14%. The business’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. Equities research analysts predict that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.415 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Ashland’s previous quarterly dividend of $0.41. Ashland’s payout ratio is -69.17%.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.