Harsco Co. (HSC) Lifted to Buy at Zacks Investment Research
Harsco Co. (NYSE:HSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $17.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.48% from the stock’s current price.
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. “
Separately, Jefferies Group LLC reiterated a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of Harsco in a research note on Monday, March 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.25.
Harsco (NYSE:HSC) traded down 0.67% on Tuesday, reaching $14.85. 330,375 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $13.18 and a 200 day moving average price of $13.20. The stock’s market cap is $1.19 billion. Harsco has a 12-month low of $5.81 and a 12-month high of $15.75.
Harsco (NYSE:HSC) last posted its earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. Harsco had a negative net margin of 5.21% and a positive return on equity of 11.33%. The firm had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $343.40 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Harsco will post $0.54 EPS for the current year.
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In related news, SVP Scott H. Gerson sold 6,706 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $15.10, for a total value of $101,260.60. Following the completion of the transaction, the senior vice president now directly owns 32,125 shares in the company, valued at approximately $485,087.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
Several institutional investors have recently bought and sold shares of HSC. BlackRock Inc. boosted its position in Harsco by 36,936.1% in the first quarter. BlackRock Inc. now owns 9,685,304 shares of the industrial products company’s stock valued at $123,489,000 after buying an additional 9,659,153 shares in the last quarter. Vanguard Group Inc. boosted its position in Harsco by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,181,030 shares of the industrial products company’s stock valued at $91,558,000 after buying an additional 384,883 shares in the last quarter. BlackRock Fund Advisors boosted its position in Harsco by 8.3% in the third quarter. BlackRock Fund Advisors now owns 5,652,294 shares of the industrial products company’s stock valued at $56,127,000 after buying an additional 432,368 shares in the last quarter. Victory Capital Management Inc. boosted its position in Harsco by 1.9% in the first quarter. Victory Capital Management Inc. now owns 2,703,798 shares of the industrial products company’s stock valued at $34,474,000 after buying an additional 51,242 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Harsco by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,167,476 shares of the industrial products company’s stock valued at $27,635,000 after buying an additional 200,320 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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