Wells Fargo & Company Issues Pessimistic Forecast for Ashland (NYSE:ASH) Stock Price

Ashland (NYSE:ASH) had its price objective decreased by stock analysts at Wells Fargo & Company from $90.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 25.77% from the company’s current price.

A number of other research firms have also recently issued reports on ASH. UBS Group cut their target price on shares of Ashland from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets boosted their price objective on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded Ashland from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ashland presently has an average rating of “Moderate Buy” and an average target price of $95.57.

Ashland Price Performance

Ashland stock opened at $63.61 on Thursday. The business has a 50 day simple moving average of $72.57 and a 200 day simple moving average of $81.75. Ashland has a one year low of $62.84 and a one year high of $102.50. The company has a market capitalization of $3.00 billion, a PE ratio of -96.37, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.33.

Ashland (NYSE:ASH) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.17%. During the same quarter last year, the company posted $0.45 earnings per share. On average, sell-side analysts forecast that Ashland will post 4.31 EPS for the current fiscal year.

Insider Activity

In other news, SVP Robin E. Lampkin sold 868 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $77.90, for a total value of $67,617.20. Following the transaction, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $224,585.70. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric N. Boni sold 451 shares of Ashland stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $78.07, for a total transaction of $35,209.57. Following the sale, the vice president now owns 14,182 shares of the company’s stock, valued at approximately $1,107,188.74. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in Ashland in the third quarter valued at about $31,000. UMB Bank n.a. increased its stake in shares of Ashland by 193.1% in the 3rd quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 251 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ashland in the 3rd quarter valued at approximately $38,000. Versant Capital Management Inc acquired a new position in Ashland during the fourth quarter valued at approximately $33,000. Finally, Assetmark Inc. increased its stake in Ashland by 610.5% in the third quarter. Assetmark Inc. now owns 540 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 464 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

Ashland Company Profile

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.