Koppers Holdings Inc. (KOP) Downgraded to Hold at Zacks Investment Research
Koppers Holdings Inc. (NYSE:KOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Koppers Holdings Inc. is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. “
Other equities research analysts have also issued research reports about the company. Jefferies Group restated a “buy” rating on shares of Koppers Holdings in a research report on Wednesday, July 6th. Wunderlich upped their price objective on Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. Finally, Monness Crespi & Hardt lowered Koppers Holdings from a “buy” rating to a “neutral” rating in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Koppers Holdings currently has an average rating of “Buy” and a consensus price target of $37.00.
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Koppers Holdings (NYSE:KOP) opened at 32.18 on Wednesday. The company has a 50 day moving average of $31.77 and a 200-day moving average of $28.73. Koppers Holdings has a 12-month low of $13.58 and a 12-month high of $33.71. The stock’s market cap is $664.58 million.
Koppers Holdings (NYSE:KOP) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. Koppers Holdings had a positive return on equity of 251.65% and a negative net margin of 4.37%. The business had revenue of $385.10 million for the quarter, compared to analyst estimates of $395.95 million. During the same quarter in the prior year, the firm posted $0.68 EPS. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. Equities analysts forecast that Koppers Holdings will post $2.14 earnings per share for the current year.
In other news, VP Leslie S. Hyde sold 2,850 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.48, for a total transaction of $92,568.00. Following the transaction, the vice president now owns 25,432 shares in the company, valued at approximately $826,031.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Steven R. Lacy sold 6,670 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.76, for a total value of $218,509.20. Following the transaction, the vice president now owns 57,788 shares in the company, valued at approximately $1,893,134.88. The disclosure for this sale can be found here. Insiders own 4.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. raised its position in shares of Koppers Holdings by 20.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,577,301 shares of the company’s stock worth $48,470,000 after buying an additional 264,297 shares during the period. Southernsun Asset Management LLC raised its position in shares of Koppers Holdings by 18.7% in the first quarter. Southernsun Asset Management LLC now owns 1,618,948 shares of the company’s stock worth $36,378,000 after buying an additional 255,567 shares during the last quarter. Allianz Asset Management AG purchased a new position in shares of Koppers Holdings during the second quarter worth $4,502,000. JPMorgan Chase & Co. raised its position in shares of Koppers Holdings by 119.1% in the second quarter. JPMorgan Chase & Co. now owns 173,248 shares of the company’s stock worth $5,323,000 after buying an additional 94,158 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Koppers Holdings by 7.8% in the first quarter. Royal Bank of Canada now owns 1,160,716 shares of the company’s stock worth $26,081,000 after buying an additional 83,702 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.
Koppers Holdings Company Profile
Koppers Holdings Inc is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three business segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The Railroad and Utility Products and Services segment sells treated and untreated wood products, rail joint bars and services primarily to the railroad industry and treated wood products to the utility industry.
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