Mizuho Boosts Ashland (NYSE:ASH) Price Target to $110.00

Ashland (NYSE:ASH) had its price target boosted by equities research analysts at Mizuho from $101.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Mizuho’s target price would suggest a potential upside of 17.61% from the company’s current price.

Several other brokerages have also recently issued reports on ASH. TheStreet raised shares of Ashland from a “c+” rating to a “b-” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Ashland from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Jefferies Financial Group upgraded Ashland from a “hold” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $126.00 in a report on Thursday, March 14th. JPMorgan Chase & Co. increased their target price on Ashland from $70.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Finally, Wolfe Research started coverage on Ashland in a report on Friday, March 1st. They set an “outperform” rating and a $108.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Ashland Price Performance

Shares of ASH traded down $1.80 during mid-day trading on Wednesday, reaching $93.53. 139,008 shares of the stock traded hands, compared to its average volume of 440,237. The firm has a fifty day moving average price of $95.42 and a 200 day moving average price of $86.47. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 31.23 and a beta of 0.92. Ashland has a 1 year low of $70.82 and a 1 year high of $100.35. The company has a current ratio of 3.30, a quick ratio of 1.88 and a debt-to-equity ratio of 0.44.

Ashland (NYSE:ASH) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.13. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The business had revenue of $575.00 million during the quarter, compared to analyst estimates of $574.64 million. During the same period in the previous year, the business earned $1.43 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Ashland will post 4.33 earnings per share for the current year.

Institutional Trading of Ashland

Several hedge funds have recently added to or reduced their stakes in ASH. Nordea Investment Management AB lifted its position in shares of Ashland by 167.8% in the fourth quarter. Nordea Investment Management AB now owns 107,813 shares of the basic materials company’s stock valued at $9,070,000 after acquiring an additional 67,556 shares in the last quarter. Raymond James & Associates grew its stake in Ashland by 696.4% in the 4th quarter. Raymond James & Associates now owns 52,372 shares of the basic materials company’s stock worth $4,415,000 after acquiring an additional 45,796 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Ashland by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,671,593 shares of the basic materials company’s stock valued at $140,932,000 after acquiring an additional 256,828 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Ashland by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 188,767 shares of the basic materials company’s stock worth $15,418,000 after purchasing an additional 6,246 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Ashland by 157.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 198,064 shares of the basic materials company’s stock worth $16,699,000 after purchasing an additional 121,161 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

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.