Ashland Global Holdings Inc. (ASH Quick QuoteASH - Free Report) relaunched Instint — its color tinting service. The product will meet the growing demand for digital matching. Leveraging the portable color sensor NIX, the company can now scan any color of the rainbow and instantly and precisely create gelcoat in any desired color. 

 

Instint has been providing high-quality gelcoats to 50 Instint machines across Europe and dispensed more than 4,000 colors over the past two decades. The product comes with a huge database of colors and offers customers with the exact shade of their choice. The portable Nix PRO color sensor enables measurement the color of any item, match it instantly and provide accurate color information to a smartphone. 

 

Instint can use used together with the company’s broad product portfolio of gelcoats and also can help minimize inventory costs. 

 

Shares of Ashland have moved up 17.1% over the past six months, significantly outperforming the industry’s 0.6% dip.

 

 

 

Ashland missed earnings and sales estimates in first-quarter fiscal 2018 (ended Dec 31, 2017). In the quarter, the company’s adjusted earnings came in at 46 cents per share, trailing the Zacks Consensus Estimate of 47 cents.

 

Revenues increased roughly 19.6% year over year to $842 million. The figure, however, lagged the Zacks Consensus Estimate of $860 million.

 

For fiscal 2018, Ashland updated its adjusted earnings outlook to a range of $2.90-$3.10 per share owing to changes in the company’s effective tax rate. Also, the company raised its effective tax rate expectation for the fiscal as a result of the recently enacted tax reform. This, in turn, is expected to reduce fiscal 2018 adjusted earnings by roughly 30 cents per share.

 

For second-quarter fiscal 2018, Ashland projects adjusted earnings in the range of 80-90 cents per share compared with 70 cents in the prior-year period.

 

 

 

Ashland has a Zacks Rank #5 (Strong Sell).

 

Some better-ranked stocks in the chemical space are LyondellBasell Industries N.V. (LYB Quick QuoteLYB - Free Report) , Arkema S.A. (ARKAY Quick QuoteARKAY - Free Report) and Methanex Corporation (MEOH Quick QuoteMEOH - Free Report) .

 

LyondellBasell has an expected long-term earnings growth rate of 9% and sports a Zacks Rank #1 (Strong Buy). The company’s shares have moved up 22.2% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.

 

Arkema has an expected long-term earnings growth rate of 8% and flaunts a Zacks Rank #1. The company’s shares have moved up 39.6% in a year.

 

Methanex has an expected long-term earnings growth rate of 15% and carries a Zacks Rank #2 (Buy). Its shares have gained 16.7% over a year. 

 

 

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