Ashland Global (NYSE:ASH) Cut to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Ashland Global (NYSE:ASH) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

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. “

Other equities analysts have also issued reports about the company. Monness Crespi & Hardt upgraded Ashland Global from a neutral rating to a buy rating and set a $88.00 price objective on the stock in a research note on Monday, October 14th. Wells Fargo & Co assumed coverage on Ashland Global in a research note on Tuesday, October 15th. They issued an outperform rating and a $90.00 price objective on the stock. SunTrust Banks dropped their price objective on Ashland Global from $95.00 to $87.00 and set a buy rating on the stock in a research note on Wednesday, August 28th. They noted that the move was a valuation call. Buckingham Research lifted their price objective on Ashland Global from $75.00 to $85.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Finally, ValuEngine upgraded Ashland Global from a hold rating to a buy rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $85.22.

Shares of Ashland Global stock traded up $0.54 during trading on Tuesday, reaching $72.62. The company’s stock had a trading volume of 170,617 shares, compared to its average volume of 577,334. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.43 and a current ratio of 1.89. The business’s fifty day moving average price is $76.96 and its 200-day moving average price is $76.28. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27. Ashland Global has a one year low of $64.93 and a one year high of $83.36.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Monday, November 18th. The basic materials company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.21). The business had revenue of $609.00 million during the quarter, compared to the consensus estimate of $644.53 million. Ashland Global had a return on equity of 4.64% and a net margin of 20.26%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Sell-side analysts anticipate that Ashland Global will post 3.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, November 29th. Ashland Global’s dividend payout ratio (DPR) is presently 44.00%.

In related news, CFO J Kevin Willis sold 2,122 shares of Ashland Global stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.99, for a total transaction of $167,616.78. Following the sale, the chief financial officer now directly owns 2,266 shares of the company’s stock, valued at $178,991.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Peter Ganz sold 1,351 shares of Ashland Global stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.99, for a total value of $106,715.49. Following the sale, the senior vice president now directly owns 40,738 shares in the company, valued at $3,217,894.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,982 shares of company stock worth $314,538. 1.14% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASH. Mcmillion Capital Management Inc. acquired a new stake in Ashland Global during the second quarter valued at approximately $28,000. Advisory Services Network LLC boosted its holdings in shares of Ashland Global by 213.4% in the 2nd quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 239 shares in the last quarter. Usca Ria LLC acquired a new position in shares of Ashland Global in the 3rd quarter worth approximately $31,000. Executive Wealth Management LLC boosted its holdings in shares of Ashland Global by 738.2% in the 2nd quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 406 shares in the last quarter. Finally, Old North State Trust LLC acquired a new position in shares of Ashland Global in the 3rd quarter worth approximately $38,000. 95.38% of the stock is currently owned by 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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