Ashland Global Holdings Inc. (NYSE:ASH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other analysts have also weighed in on ASH. BidaskClub lowered Ashland Global Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday. ValuEngine lowered Ashland Global Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ashland Global Holdings in a research report on Friday, June 23rd. TheStreet raised Ashland Global Holdings from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $65.00 price objective (up previously from $59.69) on shares of Ashland Global Holdings in a research report on Wednesday, May 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ashland Global Holdings has a consensus rating of “Buy” and a consensus target price of $107.67.
Shares of Ashland Global Holdings (NYSE:ASH) opened at 66.88 on Tuesday. Ashland Global Holdings has a one year low of $51.61 and a one year high of $67.90. The stock’s market capitalization is $4.16 billion. The stock has a 50 day moving average price of $66.42 and a 200 day moving average price of $61.21.
Ashland Global Holdings (NYSE:ASH) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. Ashland Global Holdings had a positive return on equity of 13.53% and a negative net margin of 2.26%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. Equities analysts forecast that Ashland Global Holdings will post $4.32 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the company. Creative Planning increased its position in shares of Ashland Global Holdings by 7.1% in the second quarter. Creative Planning now owns 1,527 shares of the basic materials company’s stock worth $101,000 after buying an additional 101 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Ashland Global Holdings during the fourth quarter worth approximately $113,000. Bollard Group LLC increased its position in shares of Ashland Global Holdings by 0.3% in the first quarter. Bollard Group LLC now owns 930 shares of the basic materials company’s stock worth $115,000 after buying an additional 3 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Ashland Global Holdings by 8.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,273 shares of the basic materials company’s stock worth $143,000 after buying an additional 99 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Ashland Global Holdings by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,658 shares of the basic materials company’s stock worth $192,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.
About Ashland Global Holdings
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.
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