Harsco Corporation (HSC) Stock Rating Lowered by Zacks Investment Research
Harsco Corporation (NYSE:HSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
Several other equities research analysts have also issued reports on HSC. Lake Street Capital reissued a “buy” rating on shares of Harsco Corporation in a research report on Friday, August 4th. BidaskClub downgraded shares of Harsco Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC restated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. KeyCorp restated an “overweight” rating and set a $19.00 target price (up previously from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Finally, Argus raised shares of Harsco Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, September 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Harsco Corporation has an average rating of “Hold” and a consensus target price of $19.50.
Harsco Corporation (HSC) opened at 21.30 on Wednesday. The stock has a 50 day moving average of $18.07 and a 200 day moving average of $15.57. Harsco Corporation has a 1-year low of $9.05 and a 1-year high of $21.45. The stock’s market cap is $1.71 billion.
Harsco Corporation (NYSE:HSC) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The firm had revenue of $394.89 million for the quarter, compared to analyst estimates of $384.40 million. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. Harsco Corporation’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. Equities analysts expect that Harsco Corporation will post $0.64 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC grew its position in Harsco Corporation by 71.9% in the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 2,716 shares in the last quarter. Invictus RG purchased a new stake in shares of Harsco Corporation during the first quarter valued at approximately $120,000. Federated Investors Inc. PA raised its stake in shares of Harsco Corporation by 1.7% during the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 132 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Harsco Corporation during the first quarter valued at approximately $147,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Harsco Corporation during the first quarter valued at approximately $148,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.
About Harsco Corporation
Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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