Wells Fargo & Company Lowers Ashland (NYSE:ASH) Price Target to $58.00

Ashland (NYSE:ASH) had its price objective lowered by analysts at Wells Fargo & Company from $69.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 15.91% from the company’s current price.

Several other brokerages have also recently commented on ASH. BMO Capital Markets upped their target price on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Seaport Res Ptn lowered shares of Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $71.00 in a research note on Wednesday, March 26th. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, UBS Group lowered their target price on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and a consensus target price of $83.20.

Ashland Trading Up 7.5 %

Shares of NYSE:ASH traded up $3.51 during mid-day trading on Wednesday, hitting $50.04. The stock had a trading volume of 465,937 shares, compared to its average volume of 753,777. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.52. The company has a market cap of $2.36 billion, a PE ratio of -75.89, a P/E/G ratio of 1.14 and a beta of 0.70. The company’s 50 day moving average is $59.61 and its 200-day moving average is $71.71. Ashland has a 12-month low of $45.21 and a 12-month high of $102.50.

Ashland (NYSE:ASH) last issued its quarterly earnings results on Tuesday, January 28th. The basic materials company reported $0.28 earnings per share (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 period last year, the company earned $0.45 earnings per share. On average, sell-side analysts predict that Ashland will post 4.27 EPS for the current year.

Insider Activity

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of Ashland stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Ashland during the 3rd quarter worth approximately $38,000. Versant Capital Management Inc acquired a new stake in Ashland in the fourth quarter valued at $33,000. Atala Financial Inc bought a new position in shares of Ashland in the 4th quarter valued at about $56,000. Parallel Advisors LLC increased its stake in shares of Ashland by 285.7% during the 1st quarter. Parallel Advisors LLC now owns 914 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 677 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Ashland by 80.6% in the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 428 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.