Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Ashland Inc. (ASH) - free report >>
Carpenter Technology Corporation (CRS) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ashland Inc. (ASH) - free report >>
Carpenter Technology Corporation (CRS) - free report >>
Image: Bigstock
Ashland Wraps Up Divestment of Avoca Business to Mane
Ashland Inc. (ASH - Free Report) recently announced the completion of its Avoca business divestment to Mane effective March 14, 2025. The terms of this transaction were not disclosed.
ASH’s Avoca business provides sclareolide, a fragrance fixative, and a range of contract manufacturing capabilities from two production facilities in North Carolina and Wisconsin. Avoca was the last business line under Ashland remaining from the previous acquisition of Pharmachem. Avoca, being a strong player in this space, has a dedicated team and manufacturing capabilities to meet customer needs.
The divestment is in sync with ASH’s efforts to optimize its portfolio, focus on core operations and improve margins. The company noted, earlier, that the Avoca business remained challenged over the past few quarters as customers have moved from plant-based to lower-cost bio-based materials.
ASH stock has lost 40.2% in the past year compared with the 4.6% decline of the industry.
Image Source: Zacks Investment Research
For fiscal 2025, ASH expects sales to be between $1.90 billion and $2.05 billion, while adjusted EBITDA is projected in the range of $430-$470 million.
ASH’s Zacks Rank and Key Picks
ASH currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Ingevity Corporation (NGVT - Free Report) , Axalta Coating Systems (AXTA - Free Report) and Carpenter Technology Corporation (CRS - Free Report) . While NGVT and AXTA sport a Zacks Rank #1 (Strong Buy) each at present, CRS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $4.45 per share. NGVT beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 202.9%.
The Zacks Consensus Estimate for Axalta’s current-year earnings is pegged at $2.51 per share. AXTA surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 16.28%.
The Zacks Consensus Estimate for Carpenter Technology’s current fiscal-year earnings is pegged at $6.95 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 15.7%. Its shares have soared 168.6% in the past year.