Ashland Global (ASH) Rating Reiterated by SunTrust Banks

Ashland Global (NYSE:ASH)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks in a research report issued to clients and investors on Friday, November 10th. They presently have a $74.00 target price on the basic materials company’s stock. SunTrust Banks’ price objective would suggest a potential upside of 0.39% from the company’s current price. SunTrust Banks also issued estimates for Ashland Global’s Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.13 EPS, FY2018 earnings at $3.52 EPS and FY2019 earnings at $4.03 EPS.

A number of other equities analysts have also commented on ASH. TheStreet lowered shares of Ashland Global from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Jefferies Group reissued a “buy” rating and issued a $77.00 price target (up previously from $74.00) on shares of Ashland Global in a research report on Tuesday, September 26th. BidaskClub lowered shares of Ashland Global from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank dropped their price target on shares of Ashland Global from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Finally, UBS lifted their price target on shares of Ashland Global from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $81.29.

Ashland Global (NYSE ASH) traded up $2.58 during midday trading on Friday, reaching $73.71. 1,101,700 shares of the company’s stock were exchanged, compared to its average volume of 900,230. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31. The firm has a market capitalization of $4,370.00, a PE ratio of 15.81, a PEG ratio of 2.07 and a beta of 1.08. Ashland Global has a 1 year low of $53.79 and a 1 year high of $73.72.

Ashland Global (NYSE:ASH) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.09. The business had revenue of $880.00 million during the quarter, compared to analyst estimates of $869.62 million. During the same quarter last year, the firm earned $1.52 earnings per share. Ashland Global’s revenue was up 16.7% compared to the same quarter last year. analysts expect that Ashland Global will post 3.42 EPS for the current fiscal year.

In related news, CFO J Kevin Willis sold 1,352 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.23, for a total transaction of $89,542.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter Ganz sold 3,379 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $70.63, for a total transaction of $238,658.77. The disclosure for this sale can be found here. Insiders have sold 16,342 shares of company stock worth $1,148,839 in the last ninety days. 1.27% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Creative Planning increased its position in Ashland Global by 7.1% during the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 101 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Ashland Global by 600.3% during the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock worth $152,000 after buying an additional 1,999 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Ashland Global during the third quarter worth $234,000. Sciencast Management LP acquired a new stake in Ashland Global during the second quarter worth $271,000. Finally, Trexquant Investment LP acquired a new stake in Ashland Global during the second quarter worth $290,000. 91.11% of the stock is currently owned by institutional investors and hedge funds.

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About Ashland Global

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

Analyst Recommendations for Ashland Global (NYSE:ASH)

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