Harsco Corporation (HSC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Harsco Corporation (NYSE:HSC) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $21.00 target price on the industrial products company’s stock.
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 the company. BidaskClub lowered Harsco Corporation from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Argus upgraded Harsco Corporation from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Friday, September 15th. Jefferies Group LLC restated a buy rating and issued a $19.00 target price (up from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. Finally, Lake Street Capital restated a buy rating on shares of Harsco Corporation in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $20.00.
Shares of Harsco Corporation (HSC) opened at $17.65 on Friday. Harsco Corporation has a 1 year low of $11.40 and a 1 year high of $22.00. The company has a market capitalization of $1,419.84, a PE ratio of 25.58 and a beta of 3.18. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.83 and a current ratio of 1.30.
Harsco Corporation (NYSE:HSC) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. Harsco Corporation had a return on equity of 32.46% and a net margin of 1.69%. The firm had revenue of $384.65 million during the quarter, compared to analyst estimates of $398.85 million. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts predict that Harsco Corporation will post 0.68 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Harsco Corporation by 3.8% in the 2nd quarter. BlackRock Inc. now owns 10,049,658 shares of the industrial products company’s stock worth $161,800,000 after buying an additional 364,354 shares during the period. Vanguard Group Inc. increased its position in Harsco Corporation by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 7,831,203 shares of the industrial products company’s stock worth $126,082,000 after buying an additional 650,173 shares during the period. Dimensional Fund Advisors LP increased its position in Harsco Corporation by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,338 shares of the industrial products company’s stock worth $35,136,000 after buying an additional 14,862 shares during the period. Rothschild Asset Management Inc. increased its position in Harsco Corporation by 6.6% in the 3rd quarter. Rothschild Asset Management Inc. now owns 2,131,684 shares of the industrial products company’s stock worth $44,552,000 after buying an additional 132,034 shares during the period. Finally, State Street Corp increased its position in Harsco Corporation by 4.1% in the 2nd quarter. State Street Corp now owns 1,999,994 shares of the industrial products company’s stock worth $32,197,000 after buying an additional 78,104 shares during the period. 78.51% of the stock is currently owned by institutional investors.
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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