Zacks Investment Research downgraded shares of Ashland Global (NYSE:ASH) from a hold rating to a strong sell rating in a research note released on Monday morning.

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 research analysts have also recently weighed in on ASH. Jefferies Group restated a buy rating and issued a $77.00 price objective (up from $74.00) on shares of Ashland Global in a research report on Tuesday, September 26th. SunTrust Banks restated a buy rating and issued a $74.00 price objective on shares of Ashland Global in a research report on Friday, November 10th. UBS Group upped their price objective on shares of Ashland Global from $74.00 to $78.00 and gave the stock a buy rating in a research report on Tuesday, November 7th. Credit Suisse Group upped their price objective on shares of Ashland Global from $65.00 to $69.00 and gave the stock a neutral rating in a research report on Wednesday, November 8th. Finally, Deutsche Bank upped their price objective on shares of Ashland Global from $74.00 to $78.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $82.57.

Shares of Ashland Global (NYSE ASH) traded up $0.42 on Monday, hitting $72.97. The stock had a trading volume of 986,400 shares, compared to its average volume of 553,083. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.31 and a current ratio of 1.97. The company has a market capitalization of $4,540.00, a PE ratio of -43.18, a PEG ratio of 2.12 and a beta of 1.11. Ashland Global has a 12-month low of $54.63 and a 12-month high of $74.81.

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

In other Ashland Global news, insider Peter Ganz sold 3,379 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $70.63, for a total value of $238,658.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO J Kevin Willis sold 1,352 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.23, for a total value of $89,542.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,582 shares of company stock valued at $2,633,323. 1.14% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ASH. Chicago Partners Investment Group LLC increased its holdings in shares of Ashland Global by 600.3% during the third quarter. Chicago Partners Investment Group LLC now owns 2,332 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 1,999 shares in the last quarter. Sawyer & Company Inc purchased a new position in Ashland Global in the fourth quarter worth about $157,000. Commonwealth Equity Services Inc purchased a new position in Ashland Global in the third quarter worth about $234,000. State of Alaska Department of Revenue purchased a new position in Ashland Global in the fourth quarter worth about $263,000. Finally, Sciencast Management LP purchased a new position in Ashland Global in the second quarter worth about $271,000. 91.77% of the stock is owned by institutional investors and hedge funds.

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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.

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