Ashland Global Holdings Inc (NYSE:ASH) – Research analysts at Seaport Global Securities upped their FY2020 earnings per share (EPS) estimates for Ashland Global in a research report issued on Wednesday, January 29th. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $2.98 for the year, up from their previous forecast of $2.91. Seaport Global Securities also issued estimates for Ashland Global’s Q1 2021 earnings at $0.56 EPS and FY2021 earnings at $3.91 EPS.
ASH has been the topic of a number of other research reports. Wells Fargo & Co upped their price target on Ashland Global from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets downgraded Ashland Global from an “outperform” rating to a “market perform” rating and set a $77.00 price objective for the company. in a research note on Wednesday, November 20th. UBS Group increased their price objective on Ashland Global from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Monness Crespi & Hardt raised Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. downgraded Ashland Global from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $74.00 to $68.00 in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.89.
NYSE ASH opened at $73.98 on Monday. The business’s 50-day moving average price is $75.77 and its two-hundred day moving average price is $75.71. Ashland Global has a 12 month low of $70.50 and a 12 month high of $81.22. The firm has a market capitalization of $4.46 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 3.27 and a beta of 1.24. The company has a current ratio of 1.95, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45.
Ashland Global (NYSE:ASH) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Ashland Global had a return on equity of 4.50% and a net margin of 23.88%. The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $534.68 million. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue was down 7.5% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the company. Financial Counselors Inc. grew its holdings in shares of Ashland Global by 12.0% in the fourth quarter. Financial Counselors Inc. now owns 3,539 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 379 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Ashland Global by 2.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 65,669 shares of the basic materials company’s stock valued at $5,026,000 after acquiring an additional 1,269 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Ashland Global by 38.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,828 shares of the basic materials company’s stock valued at $293,000 after acquiring an additional 1,067 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Ashland Global by 7.7% in the fourth quarter. SG Americas Securities LLC now owns 2,745 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 197 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Ashland Global by 14.8% in the fourth quarter. California Public Employees Retirement System now owns 134,897 shares of the basic materials company’s stock valued at $10,324,000 after acquiring an additional 17,386 shares in the last quarter. 90.74% of the stock is owned by institutional investors.
In other news, insider William J. Heitman sold 509 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.99, for a total value of $40,205.91. Following the completion of the transaction, the insider now directly owns 6,594 shares of the company’s stock, valued at $520,860.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Peter Ganz sold 1,351 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $78.99, for a total value of $106,715.49. Following the completion of the transaction, the senior vice president now directly owns 40,738 shares of the company’s stock, valued at $3,217,894.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,982 shares of company stock valued at $314,538. Company insiders own 9.33% of the company’s stock.
About Ashland Global
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.