Ashland Global (NYSE:ASH) Downgraded to Hold at ValuEngine

Ashland Global (NYSE:ASH) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Saturday, May 18th, ValuEngine reports.

Other equities analysts also recently issued reports about the company. TheStreet raised Ashland Global from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. Credit Suisse Group reissued a “buy” rating and set a $90.00 price target on shares of Ashland Global in a research report on Monday, February 4th. Finally, Zacks Investment Research downgraded Ashland Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Ashland Global has an average rating of “Buy” and an average price target of $89.15.

NYSE ASH traded down $0.33 during trading hours on Friday, hitting $78.40. 529,836 shares of the company were exchanged, compared to its average volume of 771,894. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.27 and a quick ratio of 1.62. Ashland Global has a 52-week low of $64.93 and a 52-week high of $86.63.

Ashland Global (NYSE:ASH) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $680.96 million. Ashland Global had a return on equity of 5.79% and a net margin of 2.30%. The firm’s revenue for the quarter was down 31.5% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Equities research analysts anticipate that Ashland Global will post 2.99 earnings per share for the current fiscal year.

In other Ashland Global news, insider William J. Heitman sold 7,203 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.49, for a total transaction of $572,566.47. Following the completion of the sale, the insider now directly owns 6,303 shares in the company, valued at $501,025.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Ganz sold 1,562 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.32, for a total transaction of $116,087.84. Following 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. Insiders sold 17,221 shares of company stock valued at $1,359,296 over the last 90 days. 1.14% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Ffcm LLC acquired a new stake in Ashland Global in the 4th quarter valued at $28,000. Semmax Financial Advisors Inc. acquired a new stake in Ashland Global in the 4th quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its stake in Ashland Global by 517.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 358 shares of the basic materials company’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Doyle Wealth Management acquired a new stake in Ashland Global in the 4th quarter valued at $45,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Ashland Global by 36.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 682 shares of the basic materials company’s stock valued at $48,000 after buying an additional 182 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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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