Harsco Co. (HSC) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Harsco Co. (NYSE:HSC) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $30.25.
HSC has been the subject of a number of recent research reports. Zacks Investment Research cut Harsco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. ValuEngine downgraded Harsco from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Lake Street Capital boosted their price objective on Harsco from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st.
HSC traded up $0.03 on Friday, hitting $21.72. 7,865 shares of the company were exchanged, compared to its average volume of 491,678. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 2.05. Harsco has a fifty-two week low of $15.55 and a fifty-two week high of $30.05. The firm has a market capitalization of $1.75 billion, a P/E ratio of 29.35 and a beta of 2.58.
In other news, SVP Scott H. Gerson sold 18,802 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $27.31, for a total transaction of $513,482.62. Following the transaction, the senior vice president now owns 3,911 shares of the company’s stock, valued at $106,809.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.04% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HSC. Tower Research Capital LLC TRC grew its stake in Harsco by 1,234.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,244 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 4,851 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Harsco in the 3rd quarter worth $176,000. Parsec Financial Management Inc. purchased a new position in Harsco in the 3rd quarter worth $214,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in Harsco in the 3rd quarter worth $218,000. Finally, Zeke Capital Advisors LLC purchased a new position in Harsco in the 3rd quarter worth $254,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.
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