Ashland Global Holdings Inc.
ASH
recently announced that it will increase the price for its pressure sensitive adhesives products in North America. This price increase will be effective from Mar 18, 2021 and range from 12 cents/lb to 15 cents/lb. This will include the Arocure, Aroset and Flexcryl product lines.
Ashland is committed toward managing costs and delivering top-quality products and excellent service. This price increase is in response to the continuous cost increases in feedstock, key raw materials and freight.
Shares of Ashland have gained 46.8% in the past year compared with 41.4% rise of the
industry
.
Ashland logged profits of $56 million in the first quarter of fiscal 2021 and saw an increase in sales of 4% year over year. Both adjusted earnings per share and sales for the quarter beat the respective Zacks Consensus Estimate. All three segments of the company also saw an increase in sales. The company’s cash and cash equivalents more than doubled year over year to $335 million at the end of the first quarter.
Ashland stated that its first-quarter results demonstrate progress toward strategic discipline, consistent organic growth, margin expansion and improved free cash flow conversion. It expects to deliver consistent results moving ahead notwithstanding the impacts of the coronavirus pandemic on global supply chains and consumers’ behaviour.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. price-consensus-chart
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Ashland Global Holdings Inc. Quote
Zacks Rank & Other Key Picks
Ashland currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are
Fortescue Metals GroupLimited
FSUGY
,
BHP Group
BHP
and
Impala Platinum Holdings Limited
IMPUY
.
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 223.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
BHP has an expected earnings growth rate of 69.2% for the current fiscal. The company’s shares have gained 119% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 186.9% for the current fiscal. The company’s shares have rallied around 148.9% in the past year. It currently sports a Zacks Rank #1.
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