Zacks Investment Research lowered shares of Harsco Corporation (NYSE:HSC) from a buy rating to a hold rating in a research note released 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. “
HSC has been the subject of several other reports. KeyCorp reissued an overweight rating and issued a $19.00 target price (up from $17.50) on shares of Harsco Corporation in a research note on Monday, June 26th. Argus raised Harsco Corporation from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Friday, September 15th. BidaskClub cut Harsco Corporation from a hold rating to a sell rating in a research note on Wednesday, August 23rd. Lake Street Capital reissued a buy rating on shares of Harsco Corporation in a research note on Friday, August 4th. Finally, Jefferies Group LLC reissued a buy rating and issued a $19.00 target price (up from $18.00) on shares of Harsco Corporation in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Harsco Corporation has an average rating of Hold and a consensus price target of $19.50.
Harsco Corporation (NYSE:HSC) traded down 1.42% on Wednesday, hitting $20.85. The stock had a trading volume of 488,714 shares. Harsco Corporation has a 1-year low of $9.05 and a 1-year high of $21.60. The firm’s market cap is $1.68 billion. The firm’s 50-day moving average price is $18.22 and its 200-day moving average price is $15.62.
Harsco Corporation (NYSE:HSC) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The company had revenue of $394.89 million during the quarter, compared to analysts’ expectations of $384.40 million. Harsco Corporation had a positive return on equity of 26.28% and a negative net margin of 1.38%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. On average, equities research analysts predict that Harsco Corporation will post $0.64 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC grew its stake in shares of Harsco Corporation by 71.9% during the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 2,716 shares during the period. Invictus RG acquired a new stake in shares of Harsco Corporation during the first quarter worth $120,000. Federated Investors Inc. PA grew its stake in shares of Harsco Corporation by 1.7% during the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 132 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Harsco Corporation during the first quarter worth $147,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Harsco Corporation during the first quarter worth $148,000. 80.67% of the stock is owned by institutional investors and hedge funds.
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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