Mizuho Forecasts Strong Price Appreciation for Ashland (NYSE:ASH) Stock

Ashland (NYSE:ASH) had its price objective increased by equities researchers at Mizuho from $60.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Mizuho’s price objective indicates a potential upside of 17.37% from the company’s current price.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Ashland from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Argus cut their price target on shares of Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. BMO Capital Markets upgraded shares of Ashland from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $61.00 to $71.00 in a research report on Monday. Evercore ISI cut their target price on shares of Ashland from $62.00 to $53.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ashland in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.63.

Ashland Stock Performance

NYSE:ASH opened at $59.64 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $52.24 and a 200 day moving average price of $51.97. The firm has a market capitalization of $2.73 billion, a PE ratio of -3.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.45. Ashland has a 12-month low of $45.21 and a 12-month high of $74.57.

Ashland (NYSE:ASH) last released its quarterly earnings data on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. The company had revenue of $509.00 million for the quarter. Ashland had a positive return on equity of 7.07% and a negative net margin of 46.25%. Research analysts anticipate that Ashland will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ashland

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Ashland by 284.3% during the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock valued at $172,318,000 after acquiring an additional 2,555,585 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Ashland by 3.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,847,326 shares of the basic materials company’s stock worth $143,164,000 after buying an additional 84,086 shares during the period. Standard Investments LLC bought a new stake in shares of Ashland during the third quarter worth approximately $107,318,000. Cooperman Leon G lifted its holdings in Ashland by 16.6% in the first quarter. Cooperman Leon G now owns 1,694,151 shares of the basic materials company’s stock valued at $100,446,000 after buying an additional 240,686 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Ashland by 11.7% in the second quarter. 1832 Asset Management L.P. now owns 1,371,755 shares of the basic materials company’s stock valued at $68,972,000 after buying an additional 143,230 shares during the period. 93.95% of the stock is owned by institutional investors and hedge funds.

About Ashland

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.