Ashland Inc. (NYSE:ASH) Stock Has Average Price Target of $74.10

Ashland Inc. (NYSE:ASH) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $74.10.

ASH has been the subject of several recent research reports. Weiss Ratings raised shares of Ashland from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Zacks Research upgraded Ashland from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $85.00 target price on shares of Ashland in a report on Friday, July 31st. BMO Capital Markets increased their price target on Ashland from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research reissued an “outperform” rating on shares of Ashland in a research note on Monday, July 27th.

Ashland Trading Up 0.1%

Shares of Ashland stock opened at $74.72 on Wednesday. The company has a fifty day moving average of $71.48 and a 200 day moving average of $63.87. Ashland has a fifty-two week low of $47.12 and a fifty-two week high of $78.25. The company has a market capitalization of $3.42 billion, a P/E ratio of 65.54, a P/E/G ratio of 1.90 and a beta of 0.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.89 and a current ratio of 3.05.

Ashland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Ashland’s dividend payout ratio is currently 147.37%.

Hedge Funds Weigh In On Ashland

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ashland in the 3rd quarter worth $25,000. Global Retirement Partners LLC bought a new position in shares of Ashland during the second quarter valued at about $35,000. Bullseye Investment Management LLC purchased a new stake in Ashland in the 2nd quarter worth approximately $38,000. Versant Capital Management Inc boosted its holdings in shares of Ashland by 989.6% during the 3rd quarter. Versant Capital Management Inc now owns 730 shares of the basic materials company’s stock valued at $50,000 after buying an additional 663 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ashland by 38.0% in the second quarter. GAMMA Investing LLC now owns 1,005 shares of the basic materials company’s stock worth $66,000 after buying an additional 277 shares in the last quarter. Institutional investors own 93.95% of the company’s stock.

About Ashland

Ashland Inc is a global specialty materials company that develops and supplies functional ingredients, additives and solutions for industrial and consumer markets. Its products are used to enhance the performance, stability, texture, appearance and processing of finished goods.

The company serves a range of industries, including pharmaceuticals, personal care, coatings, construction, food and beverages, adhesives and specialty chemicals. Its portfolio includes polymers, cellulose-based ingredients, rheology modifiers, film-forming agents, preservatives and other specialty additives used in applications such as drug delivery, skin and hair care, architectural coatings and building materials.

Ashland traces its roots to 1924, when it was established as Ashland Refining Company in Kentucky.