JP Morgan upgraded Ashland from Underweight to Neutral and set a new price target of $89.00 from $90.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/8/2024 | $90.00 → $89.00 | Underweight → Neutral | JP Morgan |
| 4/11/2024 | $100.00 → $112.00 | Equal Weight → Overweight | Wells Fargo |
| 3/14/2024 | $100.00 → $126.00 | Hold → Buy | Jefferies |
| 3/1/2024 | $108.00 | Outperform | Wolfe Research |
| 6/29/2023 | Outperform → In-line | Evercore ISI | |
| 6/26/2023 | $109.00 → $90.00 | Outperform → Market Perform | BMO Capital Markets |
| 2/2/2023 | $104.00 → $105.00 | Neutral → Underweight | JP Morgan |
| 9/12/2022 | $120.00 | Outperform | Credit Suisse |
BMO Capital analyst John McNulty maintains Ashland (NYSE:ASH) with a Market Perform and raises the price target from $97 to $105.
The transaction is expected to close in the calendar third quarter 2024, subject to the satisfaction of customary closing conditions. Ashland's nutraceuticals business supplies a broad portfolio of active ingredients and formulation aids to nutritional product companies, as well as custom formulation and contract manufacturing capabilities for the nutrition market, from four production facilities in New Jersey and Utah in the United States, and Tamaulipas, Mexico.
JP Morgan analyst Jeffrey Zekauskas maintains Ashland (NYSE:ASH) with a Underweight and raises the price target from $88 to $90.
Financial results for fourth-quarter fiscal 20241 Sales of $522 million, up one percent from the prior-year quarterSold nutraceuticals business to Turnspire Capital Partners LLCPreviously announced carboxymethylcellulose (CMC), methylcellulose (MC) and nutraceuticals portfolio optimization initiatives reduced overall sales by approximately $24 million or five percent versus the prior-year quarterIncome from continuing operations of $19 million, or $0.39 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $61 million, or $1.26 per diluted shareAdjusted EBITDA of $124 million, up 68 percent from the prior-year quarterAdjusted EBITDA below
WILMINGTON, Del., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) today announced plans to issue its fourth-quarter fiscal 2024 earnings release at approximately 5 p.m. ET on Wednesday, November 6, 2024. The company's live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Thursday, November 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com. Among those participating in the webcast presentation will be: Guillermo Novo, chair, and chief executive officerKevin Willis, senior vice president and chief fin
WILMINGTON, Del., Aug. 09, 2024 (GLOBE NEWSWIRE) -- The board of directors of Ashland Inc. (NYSE:ASH) has declared a quarterly cash dividend of $0.405 cents per share on the company's common stock. The dividend is payable on September 15, 2024, to stockholders of record at the close of business on September 1, 2024. As of July 31, 2024, there were 48,832,846 shares of Ashland common stock outstanding. About Ashland Ashland Inc. (NYSE:ASH) is a global additives and specialty ingredients company with a conscious and proactive mindset for environmental, social and governance (ESG). The company serves customers in a wide range of consumer and industrial markets, including architectural co
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JP Morgan upgraded Ashland from Underweight to Neutral and set a new price target of $89.00 from $90.00 previously
Wells Fargo upgraded Ashland from Equal Weight to Overweight and set a new price target of $112.00 from $100.00 previously
Jefferies upgraded Ashland from Hold to Buy and set a new price target of $126.00 from $100.00 previously
Financial results for fourth-quarter fiscal 20241 Sales of $522 million, up one percent from the prior-year quarterSold nutraceuticals business to Turnspire Capital Partners LLCPreviously announced carboxymethylcellulose (CMC), methylcellulose (MC) and nutraceuticals portfolio optimization initiatives reduced overall sales by approximately $24 million or five percent versus the prior-year quarterIncome from continuing operations of $19 million, or $0.39 per diluted shareAdjusted income from continuing operations excluding intangibles amortization expense of $61 million, or $1.26 per diluted shareAdjusted EBITDA of $124 million, up 68 percent from the prior-year quarterAdjusted EBITDA below
WILMINGTON, Del., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) today announced plans to issue its fourth-quarter fiscal 2024 earnings release at approximately 5 p.m. ET on Wednesday, November 6, 2024. The company's live webcast with securities analysts will include an executive summary and detailed remarks. The live webcast will take place at 9 a.m. ET on Thursday, November 7. Simultaneously, the company will post a slide presentation in the Investor Relations section of its website at http://investor.ashland.com. Among those participating in the webcast presentation will be: Guillermo Novo, chair, and chief executive officerKevin Willis, senior vice president and chief fin
D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Turnspire Capital Partners LLC ("Turnspire") on an asset-backed credit facility to finance Turnspire's acquisition of Pharmachem Innovations, LLC ("Pharmachem" or the "Company"), the former nutraceuticals business of Ashland Inc. (NYSE:ASH). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918901821/en/D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Turnspire Capital Partners LLC on an asset-backed credit facility to finance Turnspire's acquisition of Pharmachem Innovations, LLC, the former nutraceuticals bus
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Turnspire Capital Partners LLC ("Turnspire") announced today that an affiliate has completed the acquisition of Pharmachem Innovations, LLC ("Pharmachem" or the "Company"), the former nutraceuticals business of Ashland Inc. (NYSE:ASH). Additionally, Turnspire Operating Partner Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers has been appointed Interim Chief Executive Officer of Pharmachem. Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services that supplies a broad portfolio of both active ingredients and formulation aids to nutritional product companies. The Company also offers custom formulation and contract manufactu
Pharmachem Innovations, LLC ("Pharmachem" or the "Company"), a leading provider of nutraceuticals products and solutions, today announced its launch as an independent company, following the acquisition of the Company from Ashland, Inc. (NYSE:ASH) by Turnspire Capital Partners LLC ("Turnspire"). Headquartered in Kearny, NJ, Pharmachem has a long history of working closely with customers around the world to develop and produce a wide range of specialized nutraceuticals. From its manufacturing facilities in New Jersey and Utah in the United States and Tamaulipas, Mexico, Pharmachem produces a wide range of proprietary and private labeled products used in many applications, including hydratio
WILMINGTON, Del., May 08, 2024 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE:ASH) is announcing the appointment of Ashish K. Kulkarni to its Board of Directors. Kulkarni is the CEO of Kebotix, a startup company focused on commercializing artificial intelligence methods into new material commercialization. He is the former executive vice president and chief innovation officer, GAF, former chief technology and innovation officer, Avantor and former chief technology and innovation officer, Celanese Corporation. He will serve on the Board's Environmental, Health, Safety and Quality, and Compensation Committees, effective May 6, 2024. Prior to Celanese, Kulkarni held leadership positions at United Te