Ashland Global (ASH) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Ashland Global (NYSE:ASH) from a hold rating to a strong sell rating in a research report report published on Tuesday morning.

According to Zacks, “Ashland Global Holdings Inc. is engaged in providing specialty chemical solutions. It serves consumer and industrial markets which includes adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical sector. Ashland Global Holdings Inc., formerly known as Ashland Inc., is based in Covington, United States. “

ASH has been the subject of a number of other research reports. Credit Suisse Group upped their target price on Ashland Global from $86.00 to $95.00 and gave the stock a buy rating in a report on Thursday, August 2nd. UBS Group upped their target price on Ashland Global from $93.00 to $96.00 and gave the stock a buy rating in a report on Tuesday, October 2nd. SunTrust Banks reaffirmed a buy rating and issued a $90.00 target price on shares of Ashland Global in a report on Friday, July 20th. JPMorgan Chase & Co. upped their target price on Ashland Global from $71.00 to $81.00 and gave the stock a neutral rating in a report on Friday, June 15th. Finally, KeyCorp reaffirmed a buy rating and issued a $93.00 target price on shares of Ashland Global in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $90.00.

Shares of ASH opened at $74.88 on Tuesday. Ashland Global has a 12-month low of $64.13 and a 12-month high of $86.63. The company has a quick ratio of 1.37, a current ratio of 2.25 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.34 and a beta of 1.19.

Ashland Global (NYSE:ASH) last issued its earnings results on Tuesday, July 31st. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. Ashland Global had a return on equity of 6.36% and a net margin of 1.28%. The business had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Ashland Global will post 3.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 15th. Stockholders of record on Friday, August 31st were paid a $0.25 dividend. This is a boost from Ashland Global’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Ashland Global’s dividend payout ratio is presently 40.98%.

In other news, VP Keith C. Silverman sold 2,286 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total value of $193,647.06. Following the completion of the sale, the vice president now owns 4,183 shares of the company’s stock, valued at $354,341.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.14% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Ashland Global during the 1st quarter valued at about $149,000. Brown Advisory Inc. bought a new stake in shares of Ashland Global during the 2nd quarter valued at about $200,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ashland Global during the 2nd quarter valued at about $221,000. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Ashland Global during the 2nd quarter valued at about $223,000. Finally, Alps Advisors Inc. bought a new stake in shares of Ashland Global during the 2nd quarter valued at about $223,000. 93.16% of the stock is owned by institutional investors.

Ashland Global Company Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.

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