Zacks Investment Research Lowers Harsco (HSC) to Hold

Harsco (NYSE:HSC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

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Several other research analysts have also issued reports on the company. KeyCorp restated a “buy” rating and set a $25.00 target price (up previously from $23.00) on shares of Harsco in a research report on Tuesday, February 27th. Lake Street Capital restated a “buy” rating and set a $30.00 target price (up previously from $26.00) on shares of Harsco in a research report on Friday, February 23rd. Alembic Global Advisors restated a “buy” rating on shares of Harsco in a research report on Friday, February 23rd. Finally, Argus boosted their target price on Harsco to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.00.

Shares of NYSE HSC opened at $21.40 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 2.63. Harsco has a 1-year low of $12.80 and a 1-year high of $23.20. The company has a market cap of $1,769.98, a price-to-earnings ratio of 28.92 and a beta of 2.62.

Harsco (NYSE:HSC) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Harsco had a return on equity of 30.82% and a net margin of 0.49%. The company had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $432.50 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. analysts predict that Harsco will post 1.1 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in HSC. Victory Capital Management Inc. boosted its position in shares of Harsco by 3,860.6% during the fourth quarter. Victory Capital Management Inc. now owns 884,647 shares of the industrial products company’s stock valued at $16,498,000 after buying an additional 862,311 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of Harsco by 35.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,786,307 shares of the industrial products company’s stock valued at $33,315,000 after purchasing an additional 468,117 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Harsco by 111.9% in the fourth quarter. Heartland Advisors Inc. now owns 443,720 shares of the industrial products company’s stock valued at $8,275,000 after purchasing an additional 234,350 shares during the period. BlackRock Inc. boosted its holdings in shares of Harsco by 1.8% in the fourth quarter. BlackRock Inc. now owns 10,490,112 shares of the industrial products company’s stock valued at $195,642,000 after purchasing an additional 190,286 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its holdings in shares of Harsco by 23.1% in the fourth quarter. Penn Capital Management Co. Inc. now owns 680,377 shares of the industrial products company’s stock valued at $12,707,000 after purchasing an additional 127,791 shares during the period. Institutional investors and hedge funds own 85.40% of the company’s stock.

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About Harsco

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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