Ashland (NYSE:ASH) Given New $84.00 Price Target at BMO Capital Markets

Ashland (NYSE:ASH) had its price objective upped by analysts at BMO Capital Markets from $83.00 to $84.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 12.13% from the stock’s current price.

A number of other equities research analysts have also commented on ASH. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company cut their price target on Ashland from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, UBS Group lowered their target price on shares of Ashland from $116.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Ashland Price Performance

ASH stock traded down $0.96 on Wednesday, hitting $74.91. 101,997 shares of the company’s stock traded hands, compared to its average volume of 419,832. Ashland has a 1-year low of $74.75 and a 1-year high of $102.50. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.12 and a beta of 0.86. The company has a current ratio of 2.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $81.99 and a 200-day moving average of $88.40.

Ashland (NYSE:ASH) last released its earnings results on Wednesday, November 6th. The basic materials company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.02). Ashland had a net margin of 7.95% and a return on equity of 7.43%. The company had revenue of $522.00 million during the quarter, compared to the consensus estimate of $524.07 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that Ashland will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling at Ashland

In other news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $77.90, for a total value of $67,617.20. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eric N. Boni sold 451 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now owns 14,182 shares in the company, valued at $1,107,188.74. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ashland

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of Ashland during the 3rd quarter valued at $31,000. UMB Bank n.a. grew its stake in Ashland by 193.1% during the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $33,000 after buying an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Ashland during the 3rd quarter valued at about $38,000. Assetmark Inc. increased its stake in shares of Ashland by 610.5% during the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 464 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Ashland in the 2nd quarter worth $71,000. 93.95% of the stock is currently owned by institutional investors.

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.