Zacks Investment Research upgraded shares of Harsco Corporation (NYSE:HSC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $19.00 target price on the industrial products company’s stock.
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
Several other research analysts also recently weighed in on the stock. Lake Street Capital restated a buy rating on shares of Harsco Corporation in a research report on Friday, August 4th. BidaskClub downgraded shares of Harsco Corporation from a buy rating to a hold rating in a research report on Friday, July 28th. Finally, KeyCorp restated an overweight rating and set a $19.00 price target (up previously from $17.50) on shares of Harsco Corporation in a research report on Monday, June 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $18.50.
Shares of Harsco Corporation (NYSE:HSC) traded up 0.62% during midday trading on Tuesday, hitting $16.25. The stock had a trading volume of 639,838 shares. Harsco Corporation has a 52-week low of $8.52 and a 52-week high of $17.80. The firm has a 50 day moving average price of $16.06 and a 200-day moving average price of $14.37. The stock’s market cap is $1.31 billion.
Harsco Corporation (NYSE:HSC) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The business had revenue of $394.89 million for the quarter, compared to analyst estimates of $384.40 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that Harsco Corporation will post $0.64 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in Harsco Corporation by 179.3% in the second quarter. Quantbot Technologies LP now owns 32,247 shares of the industrial products company’s stock valued at $519,000 after buying an additional 20,701 shares during the period. Vanguard Group Inc. increased its position in Harsco Corporation by 9.1% in the second quarter. Vanguard Group Inc. now owns 7,831,203 shares of the industrial products company’s stock valued at $126,082,000 after buying an additional 650,173 shares during the period. Citigroup Inc. increased its position in Harsco Corporation by 22.2% in the second quarter. Citigroup Inc. now owns 124,419 shares of the industrial products company’s stock valued at $2,004,000 after buying an additional 22,594 shares during the period. UBS Asset Management Americas Inc. increased its position in Harsco Corporation by 6.6% in the second quarter. UBS Asset Management Americas Inc. now owns 45,086 shares of the industrial products company’s stock valued at $726,000 after buying an additional 2,800 shares during the period. Finally, Laurion Capital Management LP bought a new position in Harsco Corporation during the second quarter valued at $931,000. Hedge funds and other institutional investors own 82.90% 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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