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Ashland (ASH) Wraps Up Expansion of Viatel Polymers Site
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Ashland Global Holdings Inc. (ASH - Free Report) recently announced the completion of the expansion of its Viatel bioresorbable polymer manufacturing site. Also, the company relocated research and development from Dublin to the National Science Park, Mullingar, Ireland.
Viatel bioresorbable polymers are utilized for improved treatment solutions for many chronic diseases. It lays the base for extended-release drug formulations, bioresorbable medical devices and tissue engineering scaffolds. The relocation is essential for the company’s new product development strategy and the ability to solve customer challenges with customized chemistry.
The site expansion enables Ashland to focus on catering the needs of consumers as they pursue clinical studies and prepare for commercialization.
Shares of Ashland have gained 38.2% in the past year compared with 37.1% rise of the industry.
Ashland logged profits of $56 million in the first quarter of fiscal 2021 and saw 4% increase in sales on a year-over-year basis. Both adjusted earnings per share and sales in the quarter beat the respective Zacks Consensus Estimate. All three segments of the company also saw an increase in sales.
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.
Some other top-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , BHP Group (BHP - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 182.4% 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 100.8% 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 141.7% in the past year. It currently sports a Zacks Rank #1.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Ashland (ASH) Wraps Up Expansion of Viatel Polymers Site
Ashland Global Holdings Inc. (ASH - Free Report) recently announced the completion of the expansion of its Viatel bioresorbable polymer manufacturing site. Also, the company relocated research and development from Dublin to the National Science Park, Mullingar, Ireland.
Viatel bioresorbable polymers are utilized for improved treatment solutions for many chronic diseases. It lays the base for extended-release drug formulations, bioresorbable medical devices and tissue engineering scaffolds. The relocation is essential for the company’s new product development strategy and the ability to solve customer challenges with customized chemistry.
The site expansion enables Ashland to focus on catering the needs of consumers as they pursue clinical studies and prepare for commercialization.
Shares of Ashland have gained 38.2% in the past year compared with 37.1% rise of the industry.
Ashland logged profits of $56 million in the first quarter of fiscal 2021 and saw 4% increase in sales on a year-over-year basis. Both adjusted earnings per share and sales in the quarter beat the respective Zacks Consensus Estimate. All three segments of the company also saw an increase in sales.
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 | 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 Group Limited (FSUGY - Free Report) , BHP Group (BHP - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 182.4% 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 100.8% 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 141.7% in the past year. It currently sports a Zacks Rank #1.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>