Ashland (NYSE:ASH) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company

Ashland (NYSE:ASH) had its target price dropped by Wells Fargo & Company from $90.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 23.75% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, UBS Group lowered their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ashland presently has a consensus rating of “Moderate Buy” and an average price target of $98.57.

Ashland Price Performance

NYSE ASH opened at $64.64 on Thursday. The company has a market capitalization of $3.05 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87. Ashland has a 12-month low of $62.40 and a 12-month high of $102.50. The firm’s 50 day moving average is $73.16 and its 200-day moving average is $82.09. The company has a quick ratio of 1.33, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Ashland (NYSE:ASH) last announced its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.51). Ashland had a net margin of 7.95% and a return on equity of 7.43%. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities research analysts anticipate that Ashland will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Robin E. Lampkin sold 868 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $77.90, for a total transaction of $67,617.20. Following the completion of the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at $224,585.70. This represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric N. Boni sold 451 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the transaction, the vice president now owns 14,182 shares of the company’s stock, valued at $1,107,188.74. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Ashland

Several large investors have recently modified their holdings of ASH. Equitable Trust Co. lifted its holdings in shares of Ashland by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 6,431 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 141 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Ashland by 5.5% in the third quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after purchasing an additional 163 shares during the last quarter. Creative Planning grew its holdings in Ashland by 3.8% during the second quarter. Creative Planning now owns 4,867 shares of the basic materials company’s stock worth $460,000 after buying an additional 176 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Ashland by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,532 shares of the basic materials company’s stock valued at $307,000 after acquiring an additional 182 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in Ashland by 16.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,677 shares of the basic materials company’s stock worth $146,000 after acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

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.