Ashland (NYSE:ASH) Stock Rating Upgraded by JPMorgan Chase & Co.

Ashland (NYSE:ASH) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday,Finviz reports. The firm presently has a $71.00 price objective on the basic materials company’s stock, up from their prior price objective of $68.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.61% from the company’s current price.

Several other equities analysts have also issued reports on the company. StockNews.com lowered Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price objective on Ashland from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. BMO Capital Markets raised their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, UBS Group reduced their price objective on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Ashland Stock Down 0.5 %

Ashland stock opened at $56.98 on Wednesday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -86.33, a P/E/G ratio of 1.14 and a beta of 0.89. The firm has a fifty day moving average price of $63.22 and a two-hundred day moving average price of $74.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. Ashland has a fifty-two week low of $54.86 and a fifty-two week high of $102.50.

Ashland (NYSE:ASH) last released its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same quarter last year, the firm earned $0.45 EPS. As a group, analysts forecast that Ashland will post 4.27 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Guillermo Novo acquired 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $64.24 per share, with a total value of $2,010,326.56. Following the completion of the purchase, the chief executive officer now owns 31,294 shares of the company’s stock, valued at $2,010,326.56. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ashland

A number of large investors have recently bought and sold shares of ASH. Vanguard Group Inc. boosted its stake in Ashland by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,928,924 shares of the basic materials company’s stock worth $352,221,000 after purchasing an additional 66,530 shares in the last quarter. Eminence Capital LP raised its holdings in shares of Ashland by 8.0% in the fourth quarter. Eminence Capital LP now owns 2,860,471 shares of the basic materials company’s stock valued at $204,409,000 after buying an additional 212,916 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ashland by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,818,695 shares of the basic materials company’s stock worth $201,423,000 after buying an additional 44,018 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Ashland by 8.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,806,922 shares of the basic materials company’s stock valued at $200,583,000 after acquiring an additional 208,320 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Ashland by 16.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,022,580 shares of the basic materials company’s stock worth $73,074,000 after acquiring an additional 142,121 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

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.