SunTrust Banks Boosts Ashland Global (ASH) Price Target to $83.00

Ashland Global (NYSE:ASH) had its price target raised by equities researchers at SunTrust Banks to $83.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ target price indicates a potential upside of 12.19% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Ashland Global from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, October 24th. Credit Suisse Group upped their price target on Ashland Global from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Jefferies Group reissued a “buy” rating and set a $74.00 target price on shares of Ashland Global in a research note on Sunday, September 3rd. BidaskClub lowered Ashland Global from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, UBS increased their target price on Ashland Global from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $82.57.

Shares of Ashland Global (NYSE:ASH) traded up $0.27 on Friday, hitting $73.98. The company had a trading volume of 1,150,400 shares, compared to its average volume of 901,313. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.97 and a quick ratio of 1.31. Ashland Global has a 52-week low of $53.79 and a 52-week high of $74.75. The stock has a market capitalization of $4,600.00, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08.

Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.09. The firm had revenue of $880.00 million for the quarter, compared to analysts’ expectations of $869.62 million. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. sell-side analysts predict that Ashland Global will post 3.42 EPS for the current year.

In other Ashland Global news, insider Peter Ganz sold 3,379 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $70.63, for a total value of $238,658.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO J Kevin Willis sold 8,152 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $70.70, for a total value of $576,346.40. The disclosure for this sale can be found here. Insiders sold a total of 16,342 shares of company stock worth $1,148,839 in the last ninety days. 1.27% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ASH. Capstone Asset Management Co. raised its position in Ashland Global by 3.4% in the 2nd quarter. Capstone Asset Management Co. now owns 6,379 shares of the basic materials company’s stock valued at $420,000 after purchasing an additional 208 shares in the last quarter. Creative Planning increased its holdings in shares of Ashland Global by 7.1% in the 2nd quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 101 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Ashland Global by 3.0% in the 2nd quarter. Aperio Group LLC now owns 21,152 shares of the basic materials company’s stock valued at $1,394,000 after acquiring an additional 608 shares during the last quarter. State Treasurer State of Michigan increased its holdings in shares of Ashland Global by 1.6% in the 2nd quarter. State Treasurer State of Michigan now owns 25,653 shares of the basic materials company’s stock valued at $1,691,000 after acquiring an additional 400 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Ashland Global by 28.8% in the 2nd quarter. US Bancorp DE now owns 10,717 shares of the basic materials company’s stock valued at $707,000 after acquiring an additional 2,395 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors.

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About Ashland Global

Ashland Inc is engaged in specialty chemicals, and through Valvoline, is a consumer-branded lubricant supplier. The Company operates in three segments: Ashland Specialty Ingredients (Specialty Ingredients), Ashland Performance Materials (Performance Materials) and Valvoline. Its Specialty Ingredients segment is engaged in providing cellulose ethers, vinyl pyrrolidones and biofunctionals, and consists of two divisions: Consumer Specialties and Industrial Specialties.

Analyst Recommendations for Ashland Global (NYSE:ASH)

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