Harsco Corp. (HSC) Raised to Strong-Buy at Zacks Investment Research
Harsco Corp. (NYSE:HSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $12.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 20.85% from the stock’s previous close.
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. “
Other analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating on shares of Harsco Corp. in a report on Monday, August 1st. Lake Street Capital assumed coverage on Harsco Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $17.00 target price for the company.
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Harsco Corp. (NYSE:HSC) traded down 2.84% during trading on Wednesday, hitting $9.93. The stock had a trading volume of 353,985 shares. Harsco Corp. has a 12-month low of $3.55 and a 12-month high of $12.54. The firm’s market cap is $796.13 million. The stock’s 50 day moving average price is $9.71 and its 200 day moving average price is $7.97.
Harsco Corp. (NYSE:HSC) last posted its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Harsco Corp. had a positive return on equity of 12.38% and a negative net margin of 3.42%. The business earned $370 million during the quarter, compared to the consensus estimate of $377.30 million. During the same period in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was down 18.9% on a year-over-year basis. On average, analysts anticipate that Harsco Corp. will post $0.39 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Harsco Corp. by 221.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 252,930 shares of the company’s stock valued at $1,378,000 after buying an additional 174,230 shares during the period. Ngam Advisors L.P. boosted its position in shares of Harsco Corp. by 23.8% in the first quarter. Ngam Advisors L.P. now owns 40,372 shares of the company’s stock valued at $220,000 after buying an additional 7,765 shares during the period. Prudential Financial Inc. boosted its position in shares of Harsco Corp. by 15.1% in the first quarter. Prudential Financial Inc. now owns 423,552 shares of the company’s stock valued at $2,308,000 after buying an additional 55,700 shares during the period. BlackRock Fund Advisors boosted its position in shares of Harsco Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 5,042,950 shares of the company’s stock valued at $27,484,000 after buying an additional 18,202 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Harsco Corp. by 13,955,200.0% in the first quarter. JPMorgan Chase & Co. now owns 558,212 shares of the company’s stock valued at $3,042,000 after buying an additional 558,208 shares during the period. Hedge funds and other institutional investors own 80.64% of the company’s stock.
About Harsco Corp.
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.
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