Seaport Global Reaffirms Their Buy Rating on Ashland (ASH)

Seaport Global analyst Michael Harrison CFA maintained a Buy rating on Ashland (ASH – Research Report) today and set a price target of $115.00. The company’s shares closed last Friday at $95.85.

Harrison CFA covers the Basic Materials sector, focusing on stocks such as PPG Industries, Quaker Chemical, and RPM International. According to TipRanks, Harrison CFA has an average return of 7.7% and a 64.58% success rate on recommended stocks.

Currently, the analyst consensus on Ashland is a Strong Buy with an average price target of $113.86, implying a 18.79% upside from current levels. In a report released on May 2, Stifel Nicolaus also maintained a Buy rating on the stock with a $112.00 price target.

Based on Ashland’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $517 million and a GAAP net loss of $3 million. In comparison, last year the company earned a revenue of $631 million and had a net profit of $57 million

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ashland (ASH) Company Description:

Ashland Global Holdings, Inc. is a global specialty chemicals company. The company engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care, and pharmaceutical. It operates through the following segments: Specialty Ingredients, and Intermediates and Solvents. The Specialty Ingredients segment offers industry products, technologies, and resources for solving formulation and product-performance challenges. The Intermediates and Solvents segment produces butanediol and related derivatives, including tetrahydrofuran and n-methylpyrrolidone. The company was founded in 1924 and is headquartered in Covington. KY.