Ashland (NYSE:ASH) Raised to “Hold” at Wall Street Zen

Ashland (NYSE:ASH) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also recently issued reports on the company. Zacks Research raised Ashland from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 25th. Wells Fargo & Company raised their price objective on Ashland from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Mizuho reduced their price objective on shares of Ashland from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday. Argus lowered their target price on shares of Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. Finally, Morgan Stanley began coverage on shares of Ashland in a research report on Monday, September 8th. They set an “equal weight” rating and a $60.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.57.

Ashland Price Performance

Shares of ASH stock opened at $48.64 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 1.33. The firm’s 50-day moving average is $52.42 and its two-hundred day moving average is $51.93. Ashland has a 12 month low of $45.21 and a 12 month high of $88.89. The company has a market capitalization of $2.22 billion, a PE ratio of -2.60, a price-to-earnings-growth ratio of 10.80 and a beta of 0.49.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.11). The firm had revenue of $463.00 million during the quarter, compared to analysts’ expectations of $479.34 million. Ashland had a negative net margin of 46.01% and a positive return on equity of 6.82%. The business’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the company earned $1.49 EPS. Ashland has set its FY 2025 guidance at EPS. Analysts predict that Ashland will post 4.27 earnings per share for the current year.

Institutional Investors Weigh In On Ashland

Several large investors have recently added to or reduced their stakes in ASH. Caldwell Trust Co purchased a new position in Ashland in the 2nd quarter valued at approximately $62,000. Osaic Holdings Inc. raised its stake in shares of Ashland by 17.6% in the second quarter. Osaic Holdings Inc. now owns 2,786 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 417 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Ashland by 17.5% in the second quarter. Squarepoint Ops LLC now owns 83,764 shares of the basic materials company’s stock valued at $4,212,000 after purchasing an additional 12,504 shares during the period. Thrivent Financial for Lutherans grew its stake in Ashland by 38.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,318 shares of the basic materials company’s stock worth $770,000 after purchasing an additional 4,255 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Ashland by 59.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 249 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other 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.