Wells Fargo & Company Has Lowered Expectations for Ashland (NYSE:ASH) Stock Price

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

A number of other equities research analysts have also recently issued reports on ASH. StockNews.com raised Ashland from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group lowered their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets boosted their target price 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ashland currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.57.

Ashland Stock Up 0.7 %

ASH stock opened at $64.64 on Thursday. The company has a 50 day moving average of $73.16 and a two-hundred day moving average of $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 has a 12-month low of $62.40 and a 12-month high of $102.50. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.14 and a beta of 0.87.

Ashland (NYSE:ASH) last announced its quarterly earnings data 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 return on equity of 7.43% and a net margin of 7.95%. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts anticipate that Ashland will post 4.31 earnings per share for the current fiscal year.

Insider Transactions at Ashland

In related news, SVP Robin E. Lampkin sold 868 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 2,883 shares in the company, valued at $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Eric N. Boni sold 451 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total transaction of $35,209.57. Following the completion of the transaction, the vice president now owns 14,182 shares in the company, valued at approximately $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. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ASH. Vontobel Holding Ltd. grew its stake in shares of Ashland by 11.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,541 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 362 shares during the last quarter. Savant Capital LLC acquired a new position in Ashland during the fourth quarter valued at approximately $344,000. Empowered Funds LLC increased its stake in Ashland by 36.5% in the fourth quarter. Empowered Funds LLC now owns 36,103 shares of the basic materials company’s stock valued at $2,580,000 after purchasing an additional 9,656 shares in the last quarter. Choreo LLC acquired a new stake in Ashland in the fourth quarter worth $320,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Ashland during the fourth quarter worth $232,000. 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.