Ashland Global (NYSE:ASH) Given New $124.00 Price Target at Zacks Investment Research

Ashland Global (NYSE:ASH) had its price target upped by Zacks Investment Research to $124.00 in a research note issued to investors on Friday, 24/7 WallStreet reports.

ASH has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised their price target on Ashland Global from $110.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, November 11th. They noted that the move was a valuation call. BMO Capital Markets raised their price target on Ashland Global from $122.00 to $133.00 and gave the stock an outperform rating in a research report on Monday, November 15th. Wells Fargo & Company raised their price target on Ashland Global from $107.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, November 11th. Monness Crespi & Hardt lowered Ashland Global from a buy rating to a neutral rating in a report on Thursday, November 11th. Finally, Mizuho lifted their target price on Ashland Global from $116.00 to $125.00 and gave the company a buy rating in a report on Friday, November 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $115.40.

ASH stock opened at $105.70 on Friday. The business has a fifty day moving average of $104.56 and a two-hundred day moving average of $94.58. The company has a quick ratio of 1.33, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 29.53 and a beta of 1.25. Ashland Global has a 52-week low of $79.16 and a 52-week high of $110.74.

Ashland Global (NYSE:ASH) last released its quarterly earnings results on Tuesday, November 9th. The basic materials company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). Ashland Global had a return on equity of 8.33% and a net margin of 9.25%. The firm had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $591.20 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, sell-side analysts anticipate that Ashland Global will post 4.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Tuesday, November 30th. Ashland Global’s dividend payout ratio (DPR) is 33.52%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in shares of Ashland Global by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 20,327 shares of the basic materials company’s stock worth $1,779,000 after purchasing an additional 1,652 shares in the last quarter. Citigroup Inc. increased its position in shares of Ashland Global by 31.5% during the second quarter. Citigroup Inc. now owns 11,776 shares of the basic materials company’s stock worth $1,031,000 after purchasing an additional 2,820 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Ashland Global by 7.6% during the second quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the basic materials company’s stock worth $755,000 after purchasing an additional 609 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Ashland Global by 8.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,055 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 317 shares during the period. Finally, Principal Financial Group Inc. increased its position in Ashland Global by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 190,148 shares of the basic materials company’s stock valued at $16,638,000 after acquiring an additional 2,369 shares during the period. 98.10% of the stock is owned by institutional investors.

Ashland Global Company Profile

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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