Zacks Investment Research cut shares of Harsco Corporation (NYSE:HSC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
A number of other research analysts also recently weighed in on the company. BidaskClub raised Harsco Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, June 13th. Jefferies Group LLC reissued a buy rating and issued a $15.00 price target (up previously from $13.00) on shares of Harsco Corporation in a research note on Monday, March 20th. Finally, KeyCorp reissued an overweight rating and issued a $19.00 price target (up previously from $17.50) on shares of Harsco Corporation in a research note on Monday, June 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Harsco Corporation currently has an average rating of Buy and an average price target of $17.00.
Shares of Harsco Corporation (NYSE HSC) traded up 0.31% during trading on Wednesday, hitting $16.40. The company had a trading volume of 105,680 shares. The firm has a 50 day moving average of $15.38 and a 200 day moving average of $13.89. Harsco Corporation has a 12-month low of $7.02 and a 12-month high of $17.08. The stock’s market cap is $1.32 billion.
Harsco Corporation (NYSE:HSC) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.09. The company had revenue of $372.54 million for the quarter, compared to the consensus estimate of $343.40 million. Harsco Corporation had a positive return on equity of 20.08% and a negative net margin of 4.48%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, analysts forecast that Harsco Corporation will post $0.54 earnings per share for the current fiscal year.
In related news, SVP Scott H. Gerson sold 6,706 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $15.10, for a total value of $101,260.60. Following the completion of the sale, the senior vice president now owns 32,125 shares in the company, valued at approximately $485,087.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock worth $112,000 after buying an additional 170 shares in the last quarter. Invictus RG purchased a new stake in Harsco Corporation during the first quarter worth approximately $120,000. Quantbot Technologies LP purchased a new stake in Harsco Corporation during the first quarter worth approximately $147,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Harsco Corporation during the first quarter worth approximately $148,000. Finally, Cipher Capital LP purchased a new stake in Harsco Corporation during the first quarter worth approximately $155,000. Institutional investors and hedge funds own 83.95% of the company’s stock.
Harsco Corporation Company Profile
Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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