Zacks Investment Research Downgrades Heritage-Crystal Clean (NASDAQ:HCCI) to Hold

Zacks Investment Research lowered shares of Heritage-Crystal Clean (NASDAQ:HCCIGet Rating) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “HERITAGE-CRYSTAL CLEAN, LLC, headquartered in Elgin, Illinois, is a privately-held marketing and sales Company that concentrates on servicing the automotive repair, commercial and industrial marketplaces, primarily in the Midwest and Eastern States. “

Several other research firms have also recently weighed in on HCCI. StockNews.com initiated coverage on Heritage-Crystal Clean in a report on Thursday, March 31st. They set a strong-buy rating on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $39.00 price objective on shares of Heritage-Crystal Clean in a research note on Friday, March 4th. Finally, Roth Capital reaffirmed a buy rating on shares of Heritage-Crystal Clean in a research note on Monday, March 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $37.60.

Heritage-Crystal Clean stock opened at $26.08 on Tuesday. Heritage-Crystal Clean has a 12-month low of $25.31 and a 12-month high of $36.29. The business’s 50-day moving average price is $28.29 and its two-hundred day moving average price is $30.24. The stock has a market cap of $633.27 million, a PE ratio of 9.52, a P/E/G ratio of 0.86 and a beta of 1.24.

Heritage-Crystal Clean (NASDAQ:HCCIGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. Heritage-Crystal Clean had a return on equity of 19.68% and a net margin of 11.76%. During the same quarter in the previous year, the company earned $0.39 EPS. Research analysts forecast that Heritage-Crystal Clean will post 2.06 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of HCCI. JPMorgan Chase & Co. lifted its stake in Heritage-Crystal Clean by 447.3% in the first quarter. JPMorgan Chase & Co. now owns 635,430 shares of the industrial products company’s stock valued at $18,815,000 after buying an additional 519,335 shares during the period. FMR LLC lifted its stake in Heritage-Crystal Clean by 131.6% in the first quarter. FMR LLC now owns 785,000 shares of the industrial products company’s stock valued at $21,548,000 after buying an additional 446,000 shares during the period. Ghisallo Capital Management LLC acquired a new position in Heritage-Crystal Clean in the first quarter valued at approximately $8,739,000. Goldman Sachs Group Inc. lifted its stake in Heritage-Crystal Clean by 141.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 162,577 shares of the industrial products company’s stock valued at $5,206,000 after buying an additional 95,279 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Heritage-Crystal Clean by 3.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,674,265 shares of the industrial products company’s stock valued at $77,500,000 after buying an additional 89,163 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Heritage-Crystal Clean Company Profile (Get Rating)

Heritage-Crystal Clean, Inc, through its subsidiary, Heritage-Crystal Clean, LLC, provides parts cleaning, hazardous and non-hazardous waste, and used oil collection services to small and mid-sized customers in the industrial and vehicle maintenance sectors in the United States and Canada. It operates through two segments, Environmental Services and Oil Business.

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