Harsco Corporation (HSC) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of Harsco Corporation (NYSE:HSC) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Harsco Corporation from a hold rating to a buy rating and set a $17.00 price target for the company in a report on Tuesday, May 16th. KeyCorp restated an overweight rating and issued a $19.00 price objective (up from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Harsco Corporation presently has an average rating of Buy and an average target price of $17.00.

Harsco Corporation (HSC) traded down 0.154% during midday trading on Wednesday, reaching $16.225. The company had a trading volume of 125,365 shares. The firm has a 50-day moving average of $16.04 and a 200-day moving average of $14.10. The stock’s market cap is $1.30 billion. Harsco Corporation has a 12 month low of $8.52 and a 12 month high of $17.08.

Harsco Corporation (NYSE:HSC) last announced its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The company had revenue of $372.54 million during the quarter, compared to the consensus estimate of $343.40 million. Harsco Corporation had a negative net margin of 4.48% and a positive return on equity of 20.08%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, equities analysts expect that Harsco Corporation will post $0.54 EPS for the current fiscal year.

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In other Harsco Corporation news, SVP Scott H. Gerson sold 6,706 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $15.10, for a total transaction of $101,260.60. Following the completion of the sale, the senior vice president now directly owns 32,125 shares in the company, valued at approximately $485,087.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in shares of Harsco Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 85,582 shares of the industrial products company’s stock worth $1,138,000 after buying an additional 4,608 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Harsco Corporation by 19.0% in the fourth quarter. AQR Capital Management LLC now owns 242,604 shares of the industrial products company’s stock worth $3,299,000 after buying an additional 38,699 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of Harsco Corporation during the first quarter worth $1,460,000. Aureus Asset Management LLC increased its stake in shares of Harsco Corporation by 2.1% in the first quarter. Aureus Asset Management LLC now owns 577,130 shares of the industrial products company’s stock worth $8,772,000 after buying an additional 11,920 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Harsco Corporation by 222.9% in the first quarter. Trexquant Investment LP now owns 62,400 shares of the industrial products company’s stock worth $796,000 after buying an additional 43,074 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Harsco Corporation

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.