Ashland (NYSE:ASH) Price Target Increased to $90.00 by Analysts at JPMorgan Chase & Co.

Ashland (NYSE:ASH) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $88.00 to $90.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 5.49% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ASH. UBS Group upped their target price on shares of Ashland from $114.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company raised Ashland from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $100.00 to $112.00 in a report on Thursday, April 11th. StockNews.com upgraded shares of Ashland from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Wolfe Research started coverage on shares of Ashland in a research note on Friday, March 1st. They issued an “outperform” rating and a $108.00 price target on the stock. Finally, Jefferies Financial Group upgraded Ashland from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $126.00 in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ashland presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.11.

Ashland Price Performance

NYSE:ASH traded up $0.73 during mid-day trading on Thursday, reaching $95.23. 93,896 shares of the company were exchanged, compared to its average volume of 445,515. The company has a quick ratio of 1.88, a current ratio of 3.30 and a debt-to-equity ratio of 0.44. Ashland has a 12 month low of $70.82 and a 12 month high of $99.55. The stock has a market cap of $4.77 billion, a PE ratio of 25.27 and a beta of 0.92. The company has a fifty day moving average of $95.54 and a 200 day moving average of $86.66.

Ashland (NYSE:ASH) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.13. Ashland had a net margin of 9.09% and a return on equity of 5.59%. The business had revenue of $575.00 million for the quarter, compared to analyst estimates of $574.64 million. During the same quarter last year, the firm earned $1.43 EPS. Ashland’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that Ashland will post 4.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ASH. GAMMA Investing LLC increased its position in shares of Ashland by 122.4% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Ashland in the 4th quarter worth $28,000. Hexagon Capital Partners LLC raised its stake in Ashland by 143.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 378 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 223 shares during the period. Covestor Ltd lifted its holdings in shares of Ashland by 338.0% in the third quarter. Covestor Ltd now owns 403 shares of the basic materials company’s stock worth $33,000 after buying an additional 311 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Ashland by 43.1% in the third quarter. Allworth Financial LP now owns 561 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

About Ashland

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.