Credit Suisse Downgrades Ashland Inc to Neutral with Price Target $119.00

Brokerage firm Credit Suisse Downgrades its rating on Ashland Inc(NYSE:ASH). In a research note issued to the investors, the brokerage major Lowers the price-target to $119.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jul 28, 2016.

Ashland Inc (ASH) made into the market gainers list on Thursdays trading session with the shares advancing 0.04% or 0.05 points. Due to strong positive momentum, the stock ended at $113.85, which is also near the day’s high of $114.25. The stock began the session at $114 and the volume stood at 2,74,021 shares. The 52-week high of the shares is $123.17 and the 52 week low is $88.3. The company has a current market capitalization of $7,066 M and it has 6,20,60,722 shares in outstanding.

Ashland Inc has also declared a cash dividend of $0.3900 on Jul 20, 2016. The shares will quote ex-dividend on Aug 17, 2016 and the record date has been fixed on Aug 19, 2016. The dividend payable date has been fixed on Sep 15, 2016.

Ashland Inc(ASH) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.29B. Analysts had an estimated revenue of $1.32B. Earnings per share were $1.95. Analysts had estimated an EPS of $2.04.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, Anne T. Schumann (Vice President) sold 496 shares at $121.61 per share price.Also, On May 6, 2016, J Kevin Willis (Chief Financial Officer) sold 1,183 shares at $110.99 per share price.On Apr 4, 2016, Peter Ganz (Senior Vice President) sold 3,000 shares at $109.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Ashland Inc. (Ashland) is a specialty chemical company that provides products services and solutions to industries. The Company’s segments are: Ashland Specialty Ingredients offers products technologies and resources in key markets including personal and home care pharmaceutical food and beverage coatings construction energy and other industries; Ashland Water Technologies is a supplier of specialty chemicals and services to the pulp paper mining food and beverage power generation refining chemical processing general manufacturing and municipal markets. Ashland Performance Materials helps customers to create substitutes for traditional materials through higher performing cost-efficient resin and adhesive technologies that improve the manufacturing fabrication and design process and Ashland Consumer Markets delivers premium-branded automotive commercial and industrial lubricants automotive chemicals and car-care products.

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