Credit Suisse Downgrades Kraton Performance Polymers to Neutral (KRA)
Kraton Performance Polymers (NYSE:KRA) was downgraded by investment analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer upgraded shares of Kraton Performance Polymers from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $30.00 price target on the stock. They noted that the move was a valuation call. Analysts at SunTrust upgraded shares of Kraton Performance Polymers from a “neutral” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $30.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Kraton Performance Polymers presently has a consensus rating of “Hold” and an average price target of $28.10.
Shares of Kraton Performance Polymers (NYSE:KRA) opened at 21.53 on Wednesday. Kraton Performance Polymers has a 52 week low of $18.33 and a 52 week high of $28.87. The stock has a 50-day moving average of $25.15 and a 200-day moving average of $25.20. The company’s market cap is $705.7 million.
Kraton Performance Polymers (NYSE:KRA) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.08. The company had revenue of $311.70 million for the quarter, compared to the consensus estimate of $328.05 million. During the same quarter last year, the company posted $0.07 earnings per share. Kraton Performance Polymers’s revenue was down 8.4% compared to the same quarter last year. Analysts expect that Kraton Performance Polymers will post $1.82 EPS for the current fiscal year.
Kraton Performance Polymers, Inc, is a producer of styrenic block copolymers (NYSE:KRA) and other engineered polymers.
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