Kraton Corp (NYSE:KRA) Receives $24.00 Average Price Target from Brokerages

Kraton Corp (NYSE:KRA) has been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $25.75.

Several research firms have commented on KRA. SunTrust Banks raised shares of Kraton from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday. ValuEngine downgraded shares of Kraton from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Macquarie set a $33.00 price objective on shares of Kraton and gave the company a “hold” rating in a report on Friday, October 11th. UBS Group dropped their price objective on shares of Kraton from $25.00 to $17.00 and set a “sell” rating on the stock in a report on Friday, October 11th. Finally, Zacks Investment Research downgraded shares of Kraton from a “hold” rating to a “sell” rating in a report on Thursday, October 17th.

In related news, CEO Kevin Michael Fogarty sold 39,496 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.45, for a total value of $965,677.20. Following the transaction, the chief executive officer now directly owns 298,848 shares in the company, valued at $7,306,833.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Chris H. Russell sold 4,241 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $24.46, for a total transaction of $103,734.86. Following the transaction, the chief accounting officer now owns 7,413 shares in the company, valued at $181,321.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,230 shares of company stock worth $1,184,927. Insiders own 3.32% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Kraton by 0.8% in the second quarter. Arizona State Retirement System now owns 49,664 shares of the specialty chemicals company’s stock worth $1,543,000 after purchasing an additional 417 shares during the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of Kraton by 6.2% in the second quarter. Meadow Creek Investment Management LLC now owns 7,168 shares of the specialty chemicals company’s stock worth $223,000 after purchasing an additional 420 shares during the last quarter. Glen Harbor Capital Management LLC grew its holdings in shares of Kraton by 6.2% in the second quarter. Glen Harbor Capital Management LLC now owns 8,704 shares of the specialty chemicals company’s stock worth $270,000 after purchasing an additional 510 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Kraton by 1.2% in the third quarter. California State Teachers Retirement System now owns 48,779 shares of the specialty chemicals company’s stock worth $1,575,000 after purchasing an additional 582 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Kraton by 13.7% in the second quarter. Wedge Capital Management L L P NC now owns 8,707 shares of the specialty chemicals company’s stock worth $271,000 after purchasing an additional 1,046 shares during the last quarter. Hedge funds and other institutional investors own 98.32% of the company’s stock.

KRA traded down $0.21 during trading on Friday, hitting $23.58. 10,727 shares of the company traded hands, compared to its average volume of 164,135. The firm has a market cap of $748.75 million, a P/E ratio of 7.46 and a beta of 2.30. The stock’s fifty day moving average is $23.07 and its 200 day moving average is $27.23. The company has a quick ratio of 0.97, a current ratio of 2.26 and a debt-to-equity ratio of 1.79. Kraton has a one year low of $19.13 and a one year high of $40.76.

Kraton (NYSE:KRA) last released its quarterly earnings data on Wednesday, October 23rd. The specialty chemicals company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.12). The business had revenue of $444.22 million for the quarter, compared to analysts’ expectations of $473.49 million. Kraton had a net margin of 4.89% and a return on equity of 14.96%. Kraton’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. On average, equities research analysts forecast that Kraton will post 3.06 EPS for the current fiscal year.

About Kraton

Kraton Corporation manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene and styrene-isoprene-styrene; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.

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Analyst Recommendations for Kraton (NYSE:KRA)

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