Zacks Investment Research Upgrades PQ Group (NYSE:PQG) to Hold

PQ Group (NYSE:PQG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

Shares of PQ Group stock traded down $0.16 during midday trading on Friday, reaching $14.42. The company had a trading volume of 73,562 shares, compared to its average volume of 85,819. The stock’s fifty day moving average is $15.67. The company has a current ratio of 2.17, a quick ratio of 1.09 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.12 and a beta of 0.68. PQ Group has a fifty-two week low of $13.18 and a fifty-two week high of $18.54.

PQ Group (NYSE:PQG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.08. The company had revenue of $431.70 million for the quarter, compared to analyst estimates of $440.92 million. PQ Group had a return on equity of 7.05% and a net margin of 4.77%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Research analysts forecast that PQ Group will post 0.81 earnings per share for the current fiscal year.

In related news, insider Ray Kolberg sold 12,077 shares of PQ Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $15.87, for a total value of $191,661.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Boston Partners lifted its stake in shares of PQ Group by 2.3% in the first quarter. Boston Partners now owns 2,186,449 shares of the company’s stock worth $33,168,000 after acquiring an additional 49,885 shares during the period. Wells Fargo & Company MN lifted its stake in shares of PQ Group by 5.2% in the second quarter. Wells Fargo & Company MN now owns 1,705,037 shares of the company’s stock worth $27,025,000 after acquiring an additional 84,419 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PQ Group by 65.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 656,680 shares of the company’s stock worth $9,726,000 after acquiring an additional 259,078 shares during the period. Northern Trust Corp lifted its stake in shares of PQ Group by 1.6% in the fourth quarter. Northern Trust Corp now owns 464,321 shares of the company’s stock worth $6,876,000 after acquiring an additional 7,316 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of PQ Group by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 394,581 shares of the company’s stock worth $5,843,000 after acquiring an additional 36,313 shares during the period. 68.86% of the stock is currently owned by institutional investors.

About PQ Group

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.

Recommended Story: How are the companies in the S&P 500 selected?

Get a free copy of the Zacks research report on PQ Group (PQG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PQ Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PQ Group and related companies with MarketBeat.com's FREE daily email newsletter.