Harsco (NYSE:HSC) Trading Up 6%

Harsco Co. (NYSE:HSC) shares were up 6% during trading on Wednesday . The stock traded as high as $14.72 and last traded at $14.56. Approximately 2,842,145 shares were traded during trading, an increase of 219% from the average daily volume of 889,886 shares. The stock had previously closed at $13.74.

Several analysts have recently commented on HSC shares. Zacks Investment Research cut shares of Harsco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Barrington Research raised their price objective on shares of Harsco from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus raised their price objective on shares of Harsco from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $19.00.

The business’s 50-day moving average price is $14.91 and its 200 day moving average price is $11.43. The company has a market cap of $1.15 billion, a P/E ratio of 2.55, a P/E/G ratio of 3.05 and a beta of 2.54. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.22 and a current ratio of 1.56.

Harsco (NYSE:HSC) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.17. Harsco had a net margin of 27.81% and a return on equity of 7.51%. The company had revenue of $447.28 million during the quarter, compared to the consensus estimate of $448.25 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Equities research analysts forecast that Harsco Co. will post 0.43 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Channing Capital Management LLC purchased a new stake in shares of Harsco in the 1st quarter valued at $13,955,000. Wells Fargo & Company MN increased its position in shares of Harsco by 2,635.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,289,311 shares of the industrial products company’s stock valued at $8,986,000 after purchasing an additional 1,242,179 shares during the last quarter. FMR LLC increased its position in shares of Harsco by 74.3% during the 2nd quarter. FMR LLC now owns 2,144,050 shares of the industrial products company’s stock valued at $28,966,000 after purchasing an additional 913,626 shares during the last quarter. Royal Bank of Canada increased its position in shares of Harsco by 3,391.6% during the 1st quarter. Royal Bank of Canada now owns 816,197 shares of the industrial products company’s stock valued at $5,689,000 after purchasing an additional 792,821 shares during the last quarter. Finally, Investment Counselors of Maryland LLC purchased a new stake in shares of Harsco during the 1st quarter valued at about $5,363,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Harsco Company Profile (NYSE:HSC)

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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