Shares of Ashland Global Holdings Inc (NYSE:ASH) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $91.14.
A number of research firms have recently commented on ASH. ValuEngine upgraded Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 4th. Credit Suisse Group set a $92.00 price objective on Ashland Global and gave the stock a “buy” rating in a report on Friday, July 12th. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. set a $24.00 price objective on Urovant Sciences and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, TheStreet downgraded Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th.
NYSE:ASH traded up $0.61 during mid-day trading on Friday, reaching $76.11. The company’s stock had a trading volume of 496,962 shares, compared to its average volume of 559,933. The stock’s fifty day moving average price is $77.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27. Ashland Global has a twelve month low of $64.93 and a twelve month high of $86.63. The company has a market cap of $4.77 billion, a PE ratio of 21.26, a P/E/G ratio of 2.67 and a beta of 1.25.
Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The firm’s quarterly revenue was down 31.5% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. On average, equities analysts predict that Ashland Global will post 2.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Friday, August 30th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.45%. Ashland Global’s payout ratio is currently 30.73%.
In related news, insider Peter Ganz sold 1,562 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.32, for a total transaction of $116,087.84. Following the sale, the insider now directly owns 40,150 shares in the company, valued at approximately $2,983,948. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.14% of the company’s stock.
Several large investors have recently made changes to their positions in ASH. Semmax Financial Advisors Inc. purchased a new stake in shares of Ashland Global during the 4th quarter valued at about $28,000. Meridian Wealth Management LLC purchased a new stake in shares of Ashland Global during the 2nd quarter valued at about $40,000. Claybrook Capital LLC purchased a new stake in shares of Ashland Global during the 4th quarter valued at about $48,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Ashland Global during the 2nd quarter valued at about $48,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Ashland Global during the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 94.03% of the company’s stock.
Ashland Global Company Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
Featured Article: What is dollar cost averaging (DCA)?
Receive News & Ratings for Ashland Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global and related companies with MarketBeat.com's FREE daily email newsletter.