Harsco Co. (NYSE:HSC) has earned an average recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.20.
HSC has been the topic of several research reports. TheStreet raised Harsco from a “c” rating to a “b-” rating in a research report on Thursday, May 3rd. ValuEngine raised Harsco from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered Harsco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, KeyCorp increased their target price on Harsco from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd.
In other Harsco news, SVP Scott H. Gerson sold 13,784 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $21.85, for a total value of $301,180.40. Following the transaction, the senior vice president now directly owns 56,497 shares of the company’s stock, valued at $1,234,459.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tracey L. Mckenzie sold 8,985 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $22.08, for a total value of $198,388.80. Following the completion of the transaction, the senior vice president now directly owns 5,871 shares in the company, valued at $129,631.68. The disclosure for this sale can be found here. Insiders sold 30,288 shares of company stock worth $681,755 over the last three months. 1.04% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Gotham Asset Management LLC raised its position in Harsco by 26.9% in the fourth quarter. Gotham Asset Management LLC now owns 306,285 shares of the industrial products company’s stock valued at $5,712,000 after purchasing an additional 64,911 shares during the period. GSA Capital Partners LLP raised its position in Harsco by 56.6% in the first quarter. GSA Capital Partners LLP now owns 98,615 shares of the industrial products company’s stock valued at $2,036,000 after purchasing an additional 35,662 shares during the period. Swiss National Bank raised its position in Harsco by 3.5% in the fourth quarter. Swiss National Bank now owns 137,000 shares of the industrial products company’s stock valued at $2,555,000 after purchasing an additional 4,600 shares during the period. Stone Ridge Asset Management LLC purchased a new position in Harsco in the fourth quarter valued at about $666,000. Finally, Rhumbline Advisers raised its position in Harsco by 15.3% in the fourth quarter. Rhumbline Advisers now owns 185,517 shares of the industrial products company’s stock valued at $3,460,000 after purchasing an additional 24,670 shares during the period. 83.77% of the stock is currently owned by institutional investors.
Shares of Harsco traded down $0.30, hitting $22.10, during trading hours on Monday, according to MarketBeat.com. The stock had a trading volume of 509,917 shares, compared to its average volume of 445,385. The company has a current ratio of 1.50, a quick ratio of 1.16 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $1.80 billion, a P/E ratio of 29.86 and a beta of 2.69. Harsco has a 12-month low of $15.05 and a 12-month high of $26.75.
Harsco (NYSE:HSC) last issued its earnings results on Wednesday, May 2nd. The industrial products company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $408.04 million for the quarter, compared to analyst estimates of $390.75 million. Harsco had a return on equity of 32.22% and a net margin of 1.02%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. sell-side analysts predict that Harsco will post 1.2 earnings per share for the current year.
Harsco declared that its board has approved a stock repurchase plan on Wednesday, May 2nd that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Harsco Company Profile
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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