Koppers (KOP) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Koppers (NYSE:KOP) from a strong-buy rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
KOP has been the topic of several other reports. B. Riley reissued a buy rating and issued a $65.00 target price on shares of Koppers in a research report on Tuesday, December 19th. Jefferies Group reissued a hold rating and issued a $40.00 target price on shares of Koppers in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Koppers has a consensus rating of Buy and an average target price of $50.17.
Koppers (NYSE:KOP) last released its earnings results on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.55. The business had revenue of $384.80 million for the quarter, compared to the consensus estimate of $363.00 million. Koppers had a net margin of 3.54% and a return on equity of 119.06%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. research analysts predict that Koppers will post 3.73 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Koppers by 7.2% during the second quarter. Vanguard Group Inc. now owns 2,627,991 shares of the specialty chemicals company’s stock worth $95,002,000 after purchasing an additional 176,347 shares during the period. State Street Corp boosted its holdings in shares of Koppers by 11.3% during the second quarter. State Street Corp now owns 573,048 shares of the specialty chemicals company’s stock worth $20,716,000 after purchasing an additional 58,405 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Koppers during the second quarter worth approximately $1,930,000. Harvey Partners LLC acquired a new stake in shares of Koppers during the third quarter worth approximately $2,192,000. Finally, Citigroup Inc. boosted its holdings in shares of Koppers by 186.7% during the second quarter. Citigroup Inc. now owns 63,150 shares of the specialty chemicals company’s stock worth $2,283,000 after purchasing an additional 41,123 shares during the period. 89.26% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This article was first published by Watch List News and is owned by of Watch List News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.watchlistnews.com/koppers-kop-stock-rating-lowered-by-zacks-investment-research/1815795.html.
Koppers Company Profile
Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Koppers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Koppers and related companies with MarketBeat.com's FREE daily email newsletter.