Ashland Global (ASH) Price Target Raised to $100.00
Ashland Global (NYSE:ASH) had its target price upped by Deutsche Bank from $96.00 to $100.00 in a report issued on Friday. Deutsche Bank currently has a buy rating on the basic materials company’s stock.
A number of other research analysts have also weighed in on the company. BMO Capital Markets raised their price objective on Ashland Global from $84.00 to $95.00 and gave the company an outperform rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Ashland Global from a sell rating to a hold rating and set a $91.00 price objective on the stock in a report on Monday, November 12th. Credit Suisse Group raised their price objective on Ashland Global from $95.00 to $97.00 and gave the company an outperform rating in a report on Thursday, November 8th. TheStreet lowered Ashland Global from a b rating to a c+ rating in a report on Wednesday, November 7th. Finally, SunTrust Banks restated a buy rating and issued a $90.00 price objective on shares of Ashland Global in a report on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $92.50.
Ashland Global stock opened at $82.30 on Friday. Ashland Global has a 1 year low of $64.81 and a 1 year high of $86.63. The firm has a market capitalization of $5.14 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Monday, December 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Ashland Global’s payout ratio is currently 27.93%.
In other news, VP Keith C. Silverman sold 2,286 shares of Ashland Global stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $84.71, for a total transaction of $193,647.06. Following the transaction, the vice president now owns 4,183 shares in the company, valued at approximately $354,341.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ASH. Point72 Hong Kong Ltd purchased a new position in shares of Ashland Global during the 3rd quarter worth $138,000. Brown Advisory Inc. purchased a new position in shares of Ashland Global during the 2nd quarter worth $200,000. Creative Planning purchased a new position in shares of Ashland Global during the 3rd quarter worth $206,000. Commerce Bank purchased a new position in shares of Ashland Global during the 3rd quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ashland Global during the 2nd quarter worth $221,000. Institutional investors and hedge funds own 93.04% of the company’s stock.
About Ashland Global
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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