Kraton Corporation (KRA) Coverage Initiated by Analysts at UBS AG
UBS AG initiated coverage on shares of Kraton Corporation (NYSE:KRA) in a report published on Friday, The Fly reports. The firm issued a buy rating and a $65.00 price target on the specialty chemicals company’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Kraton Corporation from a hold rating to a strong-buy rating and set a $42.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub upgraded shares of Kraton Corporation from a hold rating to a buy rating in a report on Monday, July 31st. Loop Capital began coverage on shares of Kraton Corporation in a report on Thursday, September 28th. They issued a buy rating and a $65.00 price objective for the company. Finally, KeyCorp reaffirmed a hold rating on shares of Kraton Corporation in a research note on Friday, September 1st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Kraton Corporation has an average rating of Buy and a consensus target price of $57.33.
Shares of Kraton Corporation (NYSE:KRA) opened at 41.76 on Friday. The company has a 50 day moving average of $34.22 and a 200 day moving average of $33.35. The company has a market cap of $1.30 billion, a PE ratio of 29.98 and a beta of 1.25. Kraton Corporation has a 52 week low of $24.95 and a 52 week high of $41.76.
Kraton Corporation (NYSE:KRA) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.24. The company had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $506.58 million. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. Kraton Corporation’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. On average, analysts expect that Kraton Corporation will post $2.27 EPS for the current year.
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In related news, SVP James Leo Simmons sold 4,252 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.81, for a total transaction of $156,516.12. Following the completion of the sale, the senior vice president now directly owns 25,695 shares in the company, valued at approximately $945,832.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Holger R. Jung sold 21,202 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.64, for a total value of $840,447.28. Following the transaction, the senior vice president now owns 48,819 shares in the company, valued at $1,935,185.16. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Kraton Corporation by 4.3% in the 2nd quarter. BlackRock Inc. now owns 3,975,623 shares of the specialty chemicals company’s stock worth $136,919,000 after purchasing an additional 164,103 shares during the period. Vanguard Group Inc. lifted its position in Kraton Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 2,901,209 shares of the specialty chemicals company’s stock valued at $99,918,000 after purchasing an additional 66,012 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in shares of Kraton Corporation by 5.2% during the second quarter. Rothschild Asset Management Inc. now owns 954,446 shares of the specialty chemicals company’s stock valued at $32,871,000 after purchasing an additional 47,540 shares during the period. FMR LLC boosted its stake in shares of Kraton Corporation by 53.2% during the first quarter. FMR LLC now owns 954,380 shares of the specialty chemicals company’s stock valued at $29,509,000 after purchasing an additional 331,303 shares during the period. Finally, State Street Corp boosted its stake in shares of Kraton Corporation by 5.8% during the second quarter. State Street Corp now owns 740,585 shares of the specialty chemicals company’s stock valued at $25,506,000 after purchasing an additional 40,284 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.
Kraton Corporation Company Profile
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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