PQ Group (PQG) Lowered to Neutral at JPMorgan Chase & Co.

PQ Group (NYSE:PQG) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other research analysts have also commented on the company. Citigroup boosted their price target on PQ Group from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Zacks Investment Research raised PQ Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 19th. Finally, KeyCorp reduced their price target on PQ Group from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, April 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.95.

PQ Group opened at $17.88 on Friday, according to MarketBeat. The firm has a market capitalization of $2.37 billion and a PE ratio of 38.87. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.03 and a quick ratio of 1.05. PQ Group has a 12 month low of $12.88 and a 12 month high of $18.69.

PQ Group (NYSE:PQG) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $434.70 million during the quarter, compared to the consensus estimate of $420.44 million. PQ Group’s revenue for the quarter was up 11.7% on a year-over-year basis. research analysts expect that PQ Group will post 0.92 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in PQ Group during the 1st quarter valued at about $139,000. Metropolitan Life Insurance Co. NY acquired a new position in PQ Group during the 4th quarter valued at about $269,000. Comerica Bank acquired a new position in PQ Group during the 1st quarter valued at about $245,000. New York State Common Retirement Fund acquired a new position in PQ Group during the 1st quarter valued at about $278,000. Finally, Two Sigma Investments LP acquired a new position in PQ Group during the 4th quarter valued at about $349,000. 66.69% of the stock is currently owned by institutional investors.

About PQ Group

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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The Fly

Analyst Recommendations for PQ Group (NYSE:PQG)

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