Wells Fargo & Company Raises Ashland (NYSE:ASH) Price Target to $60.00

Ashland (NYSE:ASH) had its price objective upped by equities research analysts at Wells Fargo & Company from $51.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 1.21% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Morgan Stanley initiated coverage on Ashland in a report on Monday, September 8th. They issued an “equal weight” rating and a $60.00 price target for the company. Evercore ISI cut their price objective on Ashland from $62.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Argus dropped their price objective on Ashland from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. Mizuho upped their target price on Ashland from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Ashland from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.75.

Ashland Price Performance

NYSE:ASH opened at $59.29 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 2.85. Ashland has a one year low of $45.21 and a one year high of $73.84. The firm’s fifty day moving average is $52.45 and its two-hundred day moving average is $52.02. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -3.22, a PEG ratio of 1.00 and a beta of 0.45.

Ashland (NYSE:ASH) last posted its quarterly earnings results on Thursday, June 9th. The basic materials company reported $0.56 earnings per share for the quarter. Ashland had a negative net margin of 46.25% and a positive return on equity of 7.07%. The firm had revenue of $509.00 million for the quarter. Research analysts expect that Ashland will post 4.27 EPS for the current year.

Institutional Trading of Ashland

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Ashland by 284.3% during the second quarter. AQR Capital Management LLC now owns 3,454,646 shares of the basic materials company’s stock worth $172,318,000 after purchasing an additional 2,555,585 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Ashland by 3.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,847,326 shares of the basic materials company’s stock valued at $143,164,000 after buying an additional 84,086 shares in the last quarter. Standard Investments LLC acquired a new position in shares of Ashland in the third quarter worth about $107,318,000. Cooperman Leon G increased its position in shares of Ashland by 16.6% in the first quarter. Cooperman Leon G now owns 1,694,151 shares of the basic materials company’s stock worth $100,446,000 after acquiring an additional 240,686 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Ashland by 11.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,371,755 shares of the basic materials company’s stock valued at $68,972,000 after acquiring an additional 143,230 shares in the last quarter. 93.95% of the stock is currently owned by institutional investors.

About Ashland

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.