Ashland Global (NYSE:ASH) Price Target Raised to $124.00

Ashland Global (NYSE:ASH) had its price objective hoisted by Zacks Investment Research to $124.00 in a report released on Friday morning, 24/7 WallStreet reports.

Several other analysts also recently issued reports on the company. Argus increased their price target on Ashland Global from $99.00 to $126.00 and gave the company a buy rating in a report on Friday, November 19th. BMO Capital Markets increased their price target on Ashland Global from $122.00 to $133.00 and gave the company an outperform rating in a report on Monday, November 15th. Mizuho increased their price target on Ashland Global from $116.00 to $125.00 and gave the company a buy rating in a report on Friday, November 12th. Deutsche Bank Aktiengesellschaft increased their price target on Ashland Global from $110.00 to $120.00 and gave the company a buy rating in a report on Thursday, November 11th. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt downgraded Ashland Global from a buy rating to a neutral rating in a report on Thursday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $115.40.

ASH stock opened at $105.70 on Friday. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 29.53 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $104.56 and a 200-day simple moving average of $94.58. Ashland Global has a 52 week low of $79.16 and a 52 week high of $110.74.

Ashland Global (NYSE:ASH) last released its quarterly earnings data on Tuesday, November 9th. The basic materials company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $591.20 million. Ashland Global had a return on equity of 8.33% and a net margin of 9.25%. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, analysts expect that Ashland Global will post 4.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. Ashland Global’s payout ratio is 33.52%.

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in shares of Ashland Global during the second quarter worth about $28,000. Dark Forest Capital Management LP bought a new position in Ashland Global in the second quarter worth about $28,000. Jacobi Capital Management LLC bought a new position in Ashland Global in the second quarter worth about $46,000. First Manhattan Co. bought a new position in Ashland Global in the third quarter worth about $60,000. Finally, FORA Capital LLC bought a new position in Ashland Global in the second quarter worth about $73,000. 98.10% of the stock is currently owned by institutional investors and hedge funds.

About Ashland Global

Ashland Global Holdings, Inc is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Life Sciences, Personal Care & Household, Specialty Additives, and Intermediates and Solvents.

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