Wells Fargo & Company Issues Pessimistic Forecast for Ashland (NYSE:ASH) Stock Price

Ashland (NYSE:ASH) had its price objective trimmed by Wells Fargo & Company from $80.00 to $69.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other research firms have also recently commented on ASH. Seaport Res Ptn cut Ashland from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group cut their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised Ashland from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $71.00 in a report on Wednesday. BMO Capital Markets raised their price target on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of Ashland from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ashland currently has an average rating of “Moderate Buy” and an average price target of $85.40.

Ashland Trading Down 1.3 %

Shares of Ashland stock opened at $58.99 on Thursday. The stock has a market cap of $2.78 billion, a P/E ratio of -89.38, a P/E/G ratio of 1.14 and a beta of 0.89. The company has a quick ratio of 1.27, a current ratio of 2.52 and a debt-to-equity ratio of 0.51. Ashland has a 12-month low of $54.86 and a 12-month high of $102.50. The business’s 50 day moving average is $62.54 and its 200-day moving average is $73.63.

Ashland (NYSE:ASH) last posted 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 positive return on equity of 7.41% and a negative net margin of 1.12%. During the same quarter in the prior year, the business earned $0.45 EPS. Equities research analysts predict that Ashland will post 4.27 earnings per share for the current fiscal year.

Ashland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, February 28th. Ashland’s payout ratio is -245.45%.

Insider Transactions at Ashland

In other Ashland news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the transaction, the chief executive officer now directly owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Ashland

Several institutional investors and hedge funds have recently bought and sold shares of ASH. Raymond James Trust N.A. raised its position in shares of Ashland by 5.5% in the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock valued at $270,000 after buying an additional 163 shares in the last quarter. Citigroup Inc. increased its stake in Ashland by 465.0% in the third quarter. Citigroup Inc. now owns 42,287 shares of the basic materials company’s stock valued at $3,678,000 after acquiring an additional 34,802 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ashland by 88.6% during the third quarter. BNP Paribas Financial Markets now owns 82,383 shares of the basic materials company’s stock valued at $7,165,000 after purchasing an additional 38,692 shares in the last quarter. Bridgewater Associates LP lifted its stake in Ashland by 87.3% during the third quarter. Bridgewater Associates LP now owns 71,380 shares of the basic materials company’s stock worth $6,208,000 after purchasing an additional 33,271 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Ashland in the 3rd quarter valued at $1,332,000. Institutional investors 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.