Harsco Co. (HSC) Stock Rating Upgraded by Zacks Investment Research
Harsco Co. (NYSE:HSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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 LLC reaffirmed a “buy” rating and set a $15.00 price target (up from $13.00) on shares of Harsco in a report on Monday. KeyCorp lifted their price target on Harsco from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $15.00.
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Shares of Harsco (NYSE:HSC) traded down 0.40% during mid-day trading on Monday, reaching $12.40. 713,446 shares of the company were exchanged. Harsco has a 12 month low of $5.00 and a 12 month high of $15.25. The stock has a 50 day moving average price of $13.48 and a 200-day moving average price of $12.15. The stock’s market capitalization is $994.26 million.
Harsco (NYSE:HSC) last announced its quarterly earnings results on Friday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.07. The company earned $360 million during the quarter, compared to the consensus estimate of $357.07 million. Harsco had a positive return on equity of 11.33% and a negative net margin of 5.21%. Harsco’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Analysts predict that Harsco will post $0.41 earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the company. Connable Office Inc. acquired a new stake in shares of Harsco during the third quarter worth about $106,000. Quantbot Technologies LP acquired a new stake in shares of Harsco during the third quarter worth about $123,000. Palo Capital Inc. acquired a new stake in shares of Harsco during the third quarter worth about $138,000. Greenwood Capital Associates LLC acquired a new stake in shares of Harsco during the fourth quarter worth about $143,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Harsco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,750 shares of the company’s stock worth $176,000 after buying an additional 320 shares during the period. 82.36% of the stock is owned by institutional investors.
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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