Koppers (KOP) Downgraded by Zacks Investment Research to Sell

Koppers (NYSE:KOP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a note issued to investors on Wednesday, January 17th.

According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “

A number of other equities research analysts have also recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $65.00 target price on shares of Koppers in a research report on Tuesday, December 19th. Jefferies Group reaffirmed a “hold” rating and set a $40.00 price objective on shares of Koppers in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $50.17.

Shares of Koppers (NYSE:KOP) traded up $0.40 during trading on Wednesday, hitting $40.05. 167,363 shares of the stock were exchanged, compared to its average volume of 125,371. The company has a market capitalization of $822.56, a PE ratio of 17.34 and a beta of 0.85. Koppers has a 52 week low of $33.90 and a 52 week high of $51.80. The company has a debt-to-equity ratio of 6.08, a quick ratio of 1.13 and a current ratio of 2.02.

Koppers (NYSE:KOP) last announced its earnings results on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.55. The company had revenue of $384.80 million during the quarter, compared to analysts’ expectations of $363.00 million. Koppers had a net margin of 3.54% and a return on equity of 119.06%. Koppers’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. equities analysts anticipate that Koppers will post 3.73 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of KOP. BlackRock Inc. lifted its position in Koppers by 10.3% during the fourth quarter. BlackRock Inc. now owns 2,831,311 shares of the specialty chemicals company’s stock worth $144,115,000 after purchasing an additional 265,470 shares during the period. Vanguard Group Inc. lifted its position in Koppers by 7.2% during the second quarter. Vanguard Group Inc. now owns 2,627,991 shares of the specialty chemicals company’s stock worth $95,002,000 after purchasing an additional 176,347 shares during the period. Eagle Asset Management Inc. bought a new stake in Koppers during the fourth quarter worth about $6,109,000. Wells Fargo & Company MN lifted its position in Koppers by 109.9% during the fourth quarter. Wells Fargo & Company MN now owns 118,603 shares of the specialty chemicals company’s stock worth $6,038,000 after purchasing an additional 62,104 shares during the period. Finally, State Street Corp lifted its position in Koppers by 11.3% during the second quarter. State Street Corp now owns 573,048 shares of the specialty chemicals company’s stock worth $20,716,000 after purchasing an additional 58,405 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.

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Koppers Company Profile

Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.

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