PQ Group (PQG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of PQ Group (NYSE:PQG) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “PQ Group Holdings Inc. is an integrated, provider of catalysts, specialty materials and chemicals and services. It operates primarily in North America, Europe, South America and Asia. The company serves refinery, emissions control and petrochemical industries. PQ Group Holdings Inc. is based in MALVERN, United States. “

PQG has been the subject of several other research reports. Citigroup lifted their target price on shares of PQ Group from $18.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, July 11th. JPMorgan Chase & Co. downgraded shares of PQ Group from an overweight rating to a neutral rating in a research note on Friday, August 10th. Credit Suisse Group lifted their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an outperform rating in a research note on Friday, August 10th. Nomura lifted their target price on shares of PQ Group from $20.00 to $21.00 and gave the stock a buy rating in a research note on Friday, August 10th. Finally, BMO Capital Markets lifted their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an outperform rating in a research note on Friday, August 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. PQ Group has an average rating of Buy and a consensus target price of $20.29.

Shares of PQG traded down $0.30 during trading hours on Tuesday, hitting $15.06. The company’s stock had a trading volume of 2,115,520 shares, compared to its average volume of 153,453. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 32.74 and a beta of 1.04. The company has a quick ratio of 1.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.34. PQ Group has a 52-week low of $12.88 and a 52-week high of $18.69.

PQ Group (NYSE:PQG) last posted its earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $427.20 million during the quarter, compared to the consensus estimate of $413.13 million. PQ Group had a net margin of 6.00% and a return on equity of 6.98%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. On average, sell-side analysts expect that PQ Group will post 0.86 earnings per share for the current fiscal year.

In related news, insider Paul Ferrall sold 4,739 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $17.92, for a total transaction of $84,922.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 86,959 shares of company stock valued at $1,553,715. 3.30% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in PQ Group by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 5,595,705 shares of the company’s stock valued at $97,758,000 after acquiring an additional 414,930 shares in the last quarter. Boston Partners grew its stake in PQ Group by 2.3% during the second quarter. Boston Partners now owns 3,035,193 shares of the company’s stock valued at $54,634,000 after acquiring an additional 67,320 shares in the last quarter. BlackRock Inc. grew its stake in PQ Group by 8.4% during the third quarter. BlackRock Inc. now owns 2,436,560 shares of the company’s stock valued at $42,567,000 after acquiring an additional 188,543 shares in the last quarter. Wells Fargo & Company MN grew its stake in PQ Group by 6.5% during the third quarter. Wells Fargo & Company MN now owns 1,783,015 shares of the company’s stock valued at $31,149,000 after acquiring an additional 109,294 shares in the last quarter. Finally, Emerald Advisers Inc. PA grew its stake in PQ Group by 1.6% during the second quarter. Emerald Advisers Inc. PA now owns 1,228,203 shares of the company’s stock valued at $22,108,000 after acquiring an additional 19,685 shares in the last quarter. 69.26% of the stock is owned by institutional investors.

PQ Group Company Profile

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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