Kraton Performance Polymers Inc. (KRA) Upgraded to Hold by Zacks Investment Research
Kraton Performance Polymers Inc. (NYSE:KRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas. “
Separately, TheStreet downgraded shares of Kraton Performance Polymers from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/kraton-performance-polymers-inc-kra-upgraded-to-hold-by-zacks-investment-research.html
Kraton Performance Polymers (NYSE:KRA) traded down 2.39% during trading on Tuesday, reaching $34.36. 288,429 shares of the company were exchanged. Kraton Performance Polymers has a 12 month low of $13.35 and a 12 month high of $37.50. The firm has a market capitalization of $1.06 billion, a PE ratio of 10.65 and a beta of 1.61. The stock has a 50 day moving average price of $34.58 and a 200 day moving average price of $27.87.
Kraton Performance Polymers (NYSE:KRA) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.07. The business had revenue of $454.65 million for the quarter, compared to analyst estimates of $445.07 million. Kraton Performance Polymers had a return on equity of 18.90% and a net margin of 7.18%. The firm’s revenue for the quarter was up 77.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. On average, analysts expect that Kraton Performance Polymers will post $2.75 EPS for the current fiscal year.
In other news, Director Dan F. Smith sold 14,801 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $36.51, for a total value of $540,384.51. Following the completion of the transaction, the director now owns 66,254 shares in the company, valued at approximately $2,418,933.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Demetriou sold 1,850 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $30.57, for a total transaction of $56,554.50. Following the completion of the transaction, the director now owns 30,398 shares of the company’s stock, valued at approximately $929,266.86. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC bought a new position in shares of Kraton Performance Polymers during the second quarter worth about $168,000. Aristotle Capital Boston LLC increased its position in shares of Kraton Performance Polymers by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 204,012 shares of the company’s stock worth $5,698,000 after buying an additional 7,246 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Kraton Performance Polymers by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,228 shares of the company’s stock worth $118,000 after buying an additional 77 shares in the last quarter. Arizona State Retirement System increased its position in shares of Kraton Performance Polymers by 2.6% in the second quarter. Arizona State Retirement System now owns 16,006 shares of the company’s stock worth $447,000 after buying an additional 400 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Kraton Performance Polymers during the second quarter worth about $204,000. Institutional investors and hedge funds own 98.23% of the company’s stock.
About Kraton Performance Polymers
Kraton Performance Polymers, Inc is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. It operates through the manufacturing and marketing of engineered polymers segment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kraton Performance Polymers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraton Performance Polymers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.