Heritage-Crystal Clean, Inc. (HCCI) Lifted to “Buy” at Zacks Investment Research

Heritage-Crystal Clean, Inc. (NASDAQ:HCCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 4th. The brokerage presently has a $18.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential downside of 2.96% from the stock’s previous close.

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 also recently weighed in on HCCI. Roth Capital set a $17.00 target price on shares of Heritage-Crystal Clean and gave the company a “buy” rating in a report on Monday, March 20th. TheStreet upgraded shares of Heritage-Crystal Clean from a “c” rating to a “b-” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.50.

Heritage-Crystal Clean (NASDAQ:HCCI) traded down 0.27% during midday trading on Tuesday, hitting $18.55. The stock had a trading volume of 233,771 shares. The company has a market cap of $419.49 million, a P/E ratio of 24.22 and a beta of 2.07. Heritage-Crystal Clean has a 12 month low of $11.85 and a 12 month high of $19.25. The firm’s 50-day moving average price is $15.91 and its 200 day moving average price is $15.09.

Heritage-Crystal Clean (NASDAQ:HCCI) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. Heritage-Crystal Clean had a net margin of 4.92% and a return on equity of 7.69%. The business had revenue of $86.38 million for the quarter, compared to analyst estimates of $82.45 million. On average, analysts expect that Heritage-Crystal Clean will post $0.70 earnings per share for the current fiscal year.

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In other news, VP John Lucks sold 33,500 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.86, for a total value of $497,810.00. Following the sale, the vice president now directly owns 40,699 shares in the company, valued at $604,787.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregory Ray sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $16.15, for a total transaction of $32,300.00. Following the completion of the sale, the chief operating officer now owns 168,965 shares in the company, valued at $2,728,784.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,752 shares of company stock worth $733,019. Company insiders own 14.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in HCCI. Russell Investments Group Ltd. purchased a new position in shares of Heritage-Crystal Clean during the fourth quarter valued at about $3,822,000. Cannell Capital LLC purchased a new position in shares of Heritage-Crystal Clean during the first quarter valued at about $2,594,000. Cove Street Capital LLC increased its position in shares of Heritage-Crystal Clean by 4.5% in the first quarter. Cove Street Capital LLC now owns 2,625,595 shares of the industrial products company’s stock valued at $35,971,000 after buying an additional 112,295 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Heritage-Crystal Clean during the first quarter valued at about $1,201,000. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Heritage-Crystal Clean by 55.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 197,798 shares of the industrial products company’s stock valued at $2,710,000 after buying an additional 70,342 shares during the last quarter. 53.45% of the stock is currently owned by institutional investors and hedge funds.

About Heritage-Crystal Clean

Heritage-Crystal Clean, Inc provides full-service parts cleaning, containerized waste management, used oil collection, vacuum truck services and antifreeze recycling. The Company owns and operates a used oil re-refinery. The Company operates through two segments: Environmental Services and Oil Business.

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