ValuEngine Downgrades Harsco Corporation (HSC) to Hold

Harsco Corporation (NYSE:HSC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, November 14th.

Several other brokerages have also issued reports on HSC. Zacks Investment Research lowered Harsco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Argus raised Harsco from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Harsco in a research note on Wednesday, August 9th. Lake Street Capital reaffirmed a “buy” rating on shares of Harsco in a research note on Friday, August 4th. Finally, BidaskClub lowered Harsco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.00.

Harsco (NYSE HSC) traded down $0.15 during trading hours on Tuesday, reaching $17.35. The company had a trading volume of 256,532 shares, compared to its average volume of 475,558. The company has a market capitalization of $1,400.00, a price-to-earnings ratio of 25.14 and a beta of 3.19. Harsco has a 12 month low of $11.40 and a 12 month high of $22.00. The company has a quick ratio of 0.83, a current ratio of 1.30 and a debt-to-equity ratio of 2.87.

Harsco (NYSE:HSC) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The company had revenue of $384.65 million during the quarter, compared to analyst estimates of $398.85 million. Harsco had a return on equity of 32.46% and a net margin of 1.69%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. equities analysts predict that Harsco will post 0.68 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its holdings in shares of Harsco by 71.9% in the second quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock worth $105,000 after buying an additional 2,716 shares during the period. Federated Investors Inc. PA increased its holdings in shares of Harsco by 1.7% in the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock worth $124,000 after buying an additional 132 shares during the period. Fox Run Management L.L.C. purchased a new position in Harsco during the 2nd quarter valued at about $167,000. FDx Advisors Inc. purchased a new position in Harsco during the 3rd quarter valued at about $222,000. Finally, Emerald Advisers Inc. PA purchased a new position in Harsco during the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

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About Harsco

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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