Harsco Corporation (HSC) Upgraded to Buy at Argus
Harsco Corporation (NYSE:HSC) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $21.00 price target on the industrial products company’s stock. Argus’ target price points to a potential upside of 12.30% from the stock’s previous close.
Several other analysts have also recently issued reports on HSC. BidaskClub upgraded Harsco Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. Zacks Investment Research upgraded Harsco Corporation from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, August 8th. Lake Street Capital reiterated a “buy” rating on shares of Harsco Corporation in a report on Friday, August 4th. Finally, KeyCorp reiterated an “overweight” rating and set a $19.00 price target (up from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.50.
Shares of Harsco Corporation (HSC) traded up 4.76% during midday trading on Friday, reaching $18.70. 1,240,072 shares of the company’s stock were exchanged. The company’s 50-day moving average is $16.67 and its 200-day moving average is $14.91. Harsco Corporation has a one year low of $8.52 and a one year high of $18.75. The stock’s market cap is $1.50 billion.
Harsco Corporation (NYSE:HSC) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. Harsco Corporation had a positive return on equity of 26.28% and a negative net margin of 1.38%. The business had revenue of $394.89 million during the quarter, compared to the consensus estimate of $384.40 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Harsco Corporation will post $0.64 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in HSC. BlackRock Inc. boosted its holdings in Harsco Corporation by 36,936.1% during the 1st quarter. BlackRock Inc. now owns 9,685,304 shares of the industrial products company’s stock valued at $123,489,000 after acquiring an additional 9,659,153 shares during the period. Rothschild Asset Management Inc. purchased a new position in Harsco Corporation during the 1st quarter valued at about $23,733,000. Hood River Capital Management LLC purchased a new position in Harsco Corporation during the 2nd quarter valued at about $20,263,000. 1060 Capital LLC purchased a new position in Harsco Corporation during the 2nd quarter valued at about $14,658,000. Finally, Vanguard Group Inc. boosted its holdings in Harsco Corporation by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,831,203 shares of the industrial products company’s stock valued at $126,082,000 after acquiring an additional 650,173 shares during the period. Institutional investors own 80.68% of the company’s stock.
Harsco Corporation Company Profile
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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