Kraton (NYSE:KRA) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Kraton (NYSE:KRA) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas. “

A number of other equities analysts have also recently weighed in on KRA. UBS Group upgraded shares of Kraton from a sell rating to a neutral rating and upped their price objective for the stock from $34.00 to $46.50 in a research report on Thursday, September 30th. Loop Capital cut shares of Kraton from a buy rating to a hold rating and set a $46.50 target price for the company. in a research report on Tuesday, September 28th.

NYSE:KRA opened at $46.32 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.62. The company has a fifty day moving average of $46.13 and a two-hundred day moving average of $42.26. The stock has a market capitalization of $1.49 billion, a PE ratio of 15.14 and a beta of 2.15. Kraton has a fifty-two week low of $26.70 and a fifty-two week high of $46.60.

Kraton (NYSE:KRA) last posted its quarterly earnings data on Wednesday, October 27th. The specialty chemicals company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.19. The company had revenue of $526.89 million during the quarter, compared to analysts’ expectations of $464.70 million. Kraton had a net margin of 5.40% and a return on equity of 9.50%. Research analysts forecast that Kraton will post 2.63 earnings per share for the current year.

In other news, CEO Kevin Michael Fogarty sold 77,485 shares of the stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $45.72, for a total value of $3,542,614.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.32% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in Kraton by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 17,794 shares of the specialty chemicals company’s stock worth $575,000 after purchasing an additional 290 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Kraton by 7.4% during the second quarter. Mutual of America Capital Management LLC now owns 4,570 shares of the specialty chemicals company’s stock worth $148,000 after purchasing an additional 313 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Kraton by 2.3% during the third quarter. Janney Montgomery Scott LLC now owns 14,604 shares of the specialty chemicals company’s stock worth $667,000 after purchasing an additional 331 shares during the last quarter. Swiss National Bank increased its position in Kraton by 1.0% during the third quarter. Swiss National Bank now owns 71,000 shares of the specialty chemicals company’s stock worth $3,240,000 after purchasing an additional 700 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Kraton by 4.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,974 shares of the specialty chemicals company’s stock worth $613,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Kraton Company Profile

Kraton Corp. engages in the manufacture and marketing of styrenic block copolymers, specialty polymers, and other products primarily derived from pine wood pulping co-products. It operates through the Polymer and Chemical segment. The Polymer segment includes styrenic block copolymers and other engineered polymers business.

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