Kraton (KRA) Rating Lowered to Buy at ValuEngine
Kraton (NYSE:KRA) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Other research analysts also recently issued research reports about the company. KeyCorp reissued a “hold” rating on shares of Kraton in a report on Friday, September 1st. Zacks Investment Research raised Kraton from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, October 17th. BidaskClub downgraded Kraton from a “buy” rating to a “hold” rating in a report on Friday, August 11th. SunTrust Banks reissued a “buy” rating and issued a $55.00 price target (up previously from $45.00) on shares of Kraton in a report on Wednesday, October 11th. They noted that the move was a valuation call. Finally, TheStreet cut Kraton from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.50.
Shares of Kraton (NYSE:KRA) opened at $46.73 on Friday. Kraton has a 1 year low of $25.09 and a 1 year high of $51.23. The company has a quick ratio of 1.19, a current ratio of 2.27 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $1,462.46, a PE ratio of 18.92 and a beta of 1.19.
In other news, Director Barry J. Goldstein sold 16,651 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $49.15, for a total transaction of $818,396.65. Following the sale, the director now directly owns 42,323 shares in the company, valued at approximately $2,080,175.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Michael Fogarty sold 81,430 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $49.09, for a total value of $3,997,398.70. Following the sale, the chief executive officer now owns 278,119 shares in the company, valued at $13,652,861.71. The disclosure for this sale can be found here. Insiders have sold a total of 218,614 shares of company stock worth $10,434,139 over the last quarter. Insiders own 4.71% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP increased its position in Kraton by 509.1% in the 3rd quarter. Rubric Capital Management LP now owns 607,952 shares of the specialty chemicals company’s stock valued at $24,586,000 after acquiring an additional 508,140 shares during the period. Algert Global LLC acquired a new stake in Kraton in the 3rd quarter valued at approximately $495,000. Uniplan Investment Counsel Inc. increased its position in Kraton by 45.8% in the 3rd quarter. Uniplan Investment Counsel Inc. now owns 237,590 shares of the specialty chemicals company’s stock valued at $9,608,000 after acquiring an additional 74,590 shares during the period. Magnetar Financial LLC acquired a new stake in Kraton in the 3rd quarter valued at approximately $232,000. Finally, Dimensional Fund Advisors LP increased its position in Kraton by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,631,627 shares of the specialty chemicals company’s stock valued at $106,419,000 after acquiring an additional 13,374 shares during the period. Hedge funds and other institutional investors own 97.53% of the company’s stock.
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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