Ashland (NYSE:ASH) Given New $69.00 Price Target at Wells Fargo & Company

Ashland (NYSE:ASH) had its price objective decreased by Wells Fargo & Company from $80.00 to $69.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 15.40% from the company’s previous close.

Several other equities analysts have also recently weighed in on ASH. StockNews.com cut shares of Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. UBS Group lowered their price target on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. BMO Capital Markets increased their price objective on shares of Ashland from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of 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. Finally, Seaport Res Ptn cut shares of Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Ashland Stock Performance

Ashland stock opened at $59.79 on Thursday. The firm has a fifty day simple moving average of $63.01 and a two-hundred day simple moving average of $73.99. 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 twelve month low of $54.86 and a twelve month high of $102.50. The company has a market capitalization of $2.82 billion, a PE ratio of -90.60, a P/E/G ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 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 previous year, the company earned $0.45 earnings per share. Research analysts expect that Ashland will post 4.27 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Guillermo Novo bought 31,294 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $64.24 per share, for a total transaction of $2,010,326.56. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland during the 3rd quarter valued at about $38,000. Versant Capital Management Inc acquired a new stake in Ashland in the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new stake in shares of Ashland in the fourth quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ashland in the 3rd quarter valued at $72,000. Finally, Covestor Ltd increased its holdings in Ashland by 80.6% in the 4th quarter. Covestor Ltd now owns 959 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

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.