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

Ashland (NYSE:ASH) had its target price lowered by Wells Fargo & Company from $90.00 to $80.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other analysts have also recently weighed in on the stock. StockNews.com raised shares of Ashland from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group dropped their price objective 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 lifted their target price on Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.57.

Ashland Stock Performance

Shares of Ashland stock opened at $63.77 on Thursday. The firm has a market cap of $3.00 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87. Ashland has a 1 year low of $62.84 and a 1 year high of $102.50. The firm’s 50-day simple moving average is $72.88 and its 200-day simple moving average is $81.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 2.44.

Ashland (NYSE:ASH) last released its earnings results 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 return on equity of 7.43% and a net margin of 7.95%. During the same period in the prior year, the company posted $0.45 EPS. Equities analysts forecast that Ashland will post 4.31 earnings per share for the current fiscal year.

Ashland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.405 per share. The ex-dividend date is Friday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.54%. Ashland’s dividend payout ratio (DPR) is presently -245.45%.

Insider Activity

In other news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 2,883 shares in the company, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric N. Boni sold 451 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $78.07, for a total value of $35,209.57. Following 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 currently owned by company insiders.

Hedge Funds Weigh In On Ashland

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of Ashland by 105.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,135 shares of the basic materials company’s stock worth $8,513,000 after buying an additional 61,058 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Ashland during the 3rd quarter valued at $3,134,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ashland by 138.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,741 shares of the basic materials company’s stock valued at $10,501,000 after purchasing an additional 70,145 shares during the period. JPMorgan Chase & Co. grew its position in Ashland by 66.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 169,618 shares of the basic materials company’s stock worth $14,752,000 after purchasing an additional 67,980 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Ashland by 703.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 184,806 shares of the basic materials company’s stock worth $13,206,000 after purchasing an additional 161,812 shares during the period. 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.