Zacks Investment Research lowered shares of Ashland Global Holdings Inc. (NYSE:ASH) from a hold rating to a strong sell rating in a research report released on Thursday.

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. “

Several other equities research analysts have also issued reports on ASH. TheStreet lowered shares of Ashland Global Holdings from a b rating to a c+ rating in a research note on Tuesday, August 1st. Deutsche Bank AG lowered their price target on shares of Ashland Global Holdings from $75.00 to $74.00 and set a buy rating on the stock in a research note on Thursday. BidaskClub downgraded shares of Ashland Global Holdings from a buy rating to a hold rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a buy rating and issued a $74.00 price objective on shares of Ashland Global Holdings in a research report on Sunday, July 30th. Finally, ValuEngine downgraded shares of Ashland Global Holdings from a buy rating to a hold rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Ashland Global Holdings has a consensus rating of Hold and a consensus price target of $88.33.

Shares of Ashland Global Holdings (NYSE:ASH) opened at 63.48 on Thursday. The company has a 50-day moving average of $66.24 and a 200-day moving average of $62.02. The company’s market capitalization is $3.94 billion. Ashland Global Holdings has a one year low of $60.27 and a one year high of $128.19.

Ashland Global Holdings (NYSE:ASH) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.13. Ashland Global Holdings had a negative net margin of 4.71% and a positive return on equity of 10.62%. The firm had revenue of $870 million for the quarter, compared to analyst estimates of $842.78 million. During the same period in the previous year, the business earned $1.95 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Ashland Global Holdings will post $4.42 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Ashland Global Holdings Inc. (NYSE:ASH) Downgraded by Zacks Investment Research to Strong Sell” was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/06/ashland-global-holdings-inc-nyseash-downgraded-by-zacks-investment-research-to-strong-sell.html.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, August 30th. Ashland Global Holdings’s payout ratio is -25.42%.

Hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in Ashland Global Holdings by 1.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,413 shares of the basic materials company’s stock worth $423,000 after buying an additional 50 shares during the period. Advisor Partners LLC increased its stake in Ashland Global Holdings by 1.1% in the first quarter. Advisor Partners LLC now owns 1,969 shares of the basic materials company’s stock worth $244,000 after buying an additional 22 shares during the period. Channing Capital Management LLC increased its stake in Ashland Global Holdings by 42.5% in the first quarter. Channing Capital Management LLC now owns 145,009 shares of the basic materials company’s stock worth $17,954,000 after buying an additional 43,232 shares during the period. Capstone Asset Management Co. increased its stake in Ashland Global Holdings by 2.2% in the first quarter. Capstone Asset Management Co. now owns 6,171 shares of the basic materials company’s stock worth $764,000 after buying an additional 132 shares during the period. Finally, Retirement Systems of Alabama increased its stake in Ashland Global Holdings by 50.2% in the first quarter. Retirement Systems of Alabama now owns 120,623 shares of the basic materials company’s stock worth $14,934,000 after buying an additional 40,334 shares during the period. 89.69% of the stock is owned by institutional investors and hedge funds.

Ashland Global Holdings Company Profile

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.

Get a free copy of the Zacks research report on Ashland Global Holdings (ASH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ashland Global Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashland Global Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.