Koppers (KOP) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Koppers (NYSE:KOP) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

KOP has been the topic of a number of other reports. TheStreet downgraded shares of Koppers from a b- rating to a c rating in a research report on Tuesday, February 27th. ValuEngine raised shares of Koppers from a sell rating to a hold rating in a research report on Friday, June 1st. Finally, B. Riley set a $60.00 target price on shares of Koppers and gave the company a buy rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Koppers currently has a consensus rating of Hold and a consensus target price of $48.33.

NYSE KOP opened at $41.80 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.15 and a debt-to-equity ratio of 6.60. The firm has a market capitalization of $913.29 million, a P/E ratio of 11.36, a P/E/G ratio of 0.63 and a beta of 0.87. Koppers has a 12 month low of $33.90 and a 12 month high of $51.80.

Koppers (NYSE:KOP) last posted its earnings results on Thursday, May 3rd. The specialty chemicals company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. The firm had revenue of $406.10 million for the quarter, compared to the consensus estimate of $408.20 million. Koppers had a net margin of 2.77% and a return on equity of 90.02%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. research analysts forecast that Koppers will post 3.83 EPS for the current fiscal year.

In other Koppers news, Treasurer Louann E. Tronsberg-Deihle sold 14,148 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $43.10, for a total transaction of $609,778.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jianzhong Zhu sold 8,800 shares of the firm’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $42.57, for a total transaction of $374,616.00. The disclosure for this sale can be found here. Insiders sold a total of 48,163 shares of company stock worth $2,011,124 over the last ninety days. Insiders own 8.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of KOP. BlackRock Inc. grew its position in Koppers by 10.3% during the 4th 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 last quarter. Millennium Management LLC grew its position in Koppers by 235.3% during the 1st quarter. Millennium Management LLC now owns 291,279 shares of the specialty chemicals company’s stock worth $11,972,000 after purchasing an additional 204,402 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in Koppers during the 4th quarter worth $6,109,000. Renaissance Technologies LLC grew its position in Koppers by 55.6% during the 4th quarter. Renaissance Technologies LLC now owns 331,400 shares of the specialty chemicals company’s stock worth $16,868,000 after purchasing an additional 118,400 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Koppers by 9.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 960,000 shares of the specialty chemicals company’s stock worth $39,456,000 after purchasing an additional 80,000 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors.

About Koppers

Koppers Holdings Inc, through its subsidiaries, provides treated wood products, wood treatment chemicals, and carbon compounds in the United States and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).

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