Could Ashland Global Holdings Inc. (ASH) Recover After Forming a Multiple Top?

September 17, 2017 - By reb123z

Investors sentiment increased to 0.25 in Q4 2016. Its up 0.23, from 0.02 in 2016Q3. It improved, as 6 investors sold Ashland Global Holdings Inc. shares while 2 reduced holdings. 2 funds opened positions while 0 raised stakes. 1.01 million shares or 801.03% more from 112,365 shares in 2016Q3 were reported.
Cullinan Associate has invested 0.07% in Ashland Global Holdings Inc. (NYSE:ASH). Novare Capital Management Ltd owns 18,005 shares. Peoples Ser Corp reported 0% in Ashland Global Holdings Inc. (NYSE:ASH). Fruth Invest Mngmt invested 0.16% of its portfolio in Ashland Global Holdings Inc. (NYSE:ASH). Moreover, Greenwich Wealth Management Limited Liability Corporation has 12.91% invested in Ashland Global Holdings Inc. (NYSE:ASH) for 935,500 shares. Gemmer Asset Management Limited Liability Company, a California-based fund reported 121 shares. Bruce Communication holds 0.71% of its portfolio in Ashland Global Holdings Inc. (NYSE:ASH) for 25,000 shares. Todd Asset Mgmt Ltd Liability Com has invested 0.01% in Ashland Global Holdings Inc. (NYSE:ASH). Gulf National Bank (Uk) Ltd reported 20,313 shares or 0.03% of all its holdings. Alphamark Advsr Ltd Com owns 106 shares for 0.01% of their portfolio.

The stock of Ashland Global Holdings Inc. (ASH) shows a multiple tops pattern with $67.22 target or 5.00 % above today’s $64.02 share price. The 9 months chart pattern indicates low risk for the $3.99 billion company. It was reported on Sep, 17 by Finviz.com. If the $67.22 price target is reached, the company will be worth $199.50M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.76% or $0.48 on September 15, reaching $64.02. About 655,966 shares traded or 5.94% up from the average. Ashland Global Holdings Inc. (NYSE:ASH) has risen 18.65% since September 17, 2016 and is uptrending. It has outperformed by 1.95% the S&P500.

Analysts expect Ashland Global Holdings Inc. (NYSE:ASH) to report $0.70 EPS on November, 14.They anticipate $0.82 EPS change or 53.95 % from last quarter’s $1.52 EPS. ASH’s profit would be $43.63M giving it 22.86 P/E if the $0.70 EPS is correct. After having $0.83 EPS previously, Ashland Global Holdings Inc.’s analysts see -15.66 % EPS growth.

Ashland Global Holdings Inc. (NYSE:ASH) Ratings Coverage

Among 6 analysts covering Ashland (NYSE:ASH), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Ashland had 20 analyst reports since July 31, 2015 according to SRatingsIntel. The stock of Ashland Global Holdings Inc. (NYSE:ASH) earned “Buy” rating by KeyBanc Capital Markets on Wednesday, September 6. As per Friday, July 28, the company rating was maintained by Jefferies. The firm earned “Buy” rating on Monday, April 3 by Jefferies. TheStreet downgraded the stock to “Buy” rating in Tuesday, September 1 report. The firm earned “Buy” rating on Wednesday, January 27 by Monness Crespi & Hardt. The stock of Ashland Global Holdings Inc. (NYSE:ASH) earned “Neutral” rating by Credit Suisse on Wednesday, March 23. On Wednesday, June 21 the stock rating was maintained by Jefferies with “Buy”. Jefferies maintained the stock with “Buy” rating in Thursday, August 31 report. The stock of Ashland Global Holdings Inc. (NYSE:ASH) has “Buy” rating given on Thursday, August 3 by Deutsche Bank. The company was maintained on Friday, April 28 by Credit Suisse.

More notable recent Ashland Global Holdings Inc. (NYSE:ASH) news were published by: Nasdaq.com which released: “Evercore Trust Company, NA Buys Valvoline Inc, Ashland Global Holdings Inc …” on August 05, 2017, also Seekingalpha.com with their article: “Ashland Global Holdings (ASH) Q2 2017 Results – Earnings Call Transcript” published on April 26, 2017, Nasdaq.com published: “Ashland (ASH) Announces Price Hike of Maleic Anhydride” on September 15, 2017. More interesting news about Ashland Global Holdings Inc. (NYSE:ASH) were released by: Nasdaq.com and their article: “Ashland Global Holdings Inc. (ASH) Ex-Dividend Date Scheduled for August 30, 2017” published on August 29, 2017 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Magna International, Ball and Ashland Global Holdings” with publication date: August 28, 2017.

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