Ashland Global (NYSE:ASH) Downgraded to “C” at TheStreet

Ashland Global (NYSE:ASH) was downgraded by investment analysts at TheStreet from a “b” rating to a “c” rating in a report released on Monday, TheStreetRatingsTable reports.

Several other equities analysts have also commented on the company. ValuEngine upgraded Ashland Global from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $89.15.

Shares of Ashland Global stock opened at $78.40 on Monday. The firm has a market cap of $4.88 billion, a PE ratio of 21.90, a PEG ratio of 2.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.62 and a current ratio of 2.27. Ashland Global has a 12 month low of $64.93 and a 12 month high of $86.63.

Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The business’s revenue for the quarter was down 31.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that Ashland Global will post 2.99 earnings per share for the current year.

In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.49, for a total value of $572,566.47. Following the completion of the sale, the insider now owns 6,303 shares of the company’s stock, valued at $501,025.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Peter Ganz sold 1,562 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.32, for a total value of $116,087.84. Following the completion of the sale, the insider now directly owns 40,150 shares of the company’s stock, valued at approximately $2,983,948. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,221 shares of company stock worth $1,359,296. 1.14% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Suntrust Banks Inc. boosted its holdings in Ashland Global by 5.1% in the fourth quarter. Suntrust Banks Inc. now owns 15,448 shares of the basic materials company’s stock worth $1,096,000 after acquiring an additional 750 shares in the last quarter. Vanguard Group Inc boosted its holdings in Ashland Global by 2.7% in the third quarter. Vanguard Group Inc now owns 5,730,773 shares of the basic materials company’s stock worth $480,582,000 after acquiring an additional 152,555 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Ashland Global by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the basic materials company’s stock worth $1,313,000 after acquiring an additional 200 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Ashland Global by 39.0% in the first quarter. First Citizens Bank & Trust Co. now owns 5,028 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in Ashland Global by 173,906.5% in the fourth quarter. Financial Advocates Investment Management now owns 133,985 shares of the basic materials company’s stock worth $4,972,000 after acquiring an additional 133,908 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Ashland Global Company Profile

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

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Analyst Recommendations for Ashland Global (NYSE:ASH)

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