SunCoke Energy, Inc. (SXC) Lifted to Strong-Buy at Zacks Investment Research
SunCoke Energy, Inc. (NYSE:SXC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm currently has a $13.00 price objective on the energy company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.22% from the company’s previous close.
According to Zacks, “SunCoke Energy, Inc is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil. “
Several other equities analysts have also recently weighed in on the company. BidaskClub raised SunCoke Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. TheStreet cut SunCoke Energy from a “c-” rating to a “d+” rating in a research note on Friday, August 4th.
SunCoke Energy (SXC) traded down 0.18% during midday trading on Wednesday, hitting $11.07. 90,594 shares of the company traded hands. SunCoke Energy has a 12-month low of $7.66 and a 12-month high of $13.14. The company’s market cap is $712.12 million. The stock has a 50 day moving average price of $9.53 and a 200-day moving average price of $9.40.
SunCoke Energy (NYSE:SXC) last released its earnings results on Thursday, October 26th. The energy company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.26. SunCoke Energy had a return on equity of 4.60% and a net margin of 0.42%. The company had revenue of $339.00 million for the quarter, compared to analysts’ expectations of $344.40 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that SunCoke Energy will post ($0.34) EPS for the current year.
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In related news, Director James E. Sweetnam sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $8.76, for a total value of $175,200.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $87,600. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James E. Sweetnam sold 11,715 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $9.09, for a total value of $106,489.35. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $181,800. The disclosure for this sale can be found here. Insiders own 3.85% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SXC. Vanguard Group Inc. grew its stake in shares of SunCoke Energy by 25.9% in the 1st quarter. Vanguard Group Inc. now owns 4,853,591 shares of the energy company’s stock valued at $43,488,000 after buying an additional 999,209 shares in the last quarter. Boston Partners grew its stake in shares of SunCoke Energy by 30.0% in the 2nd quarter. Boston Partners now owns 3,901,699 shares of the energy company’s stock valued at $42,528,000 after buying an additional 900,669 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of SunCoke Energy in the 1st quarter valued at approximately $7,161,000. JPMorgan Chase & Co. grew its stake in shares of SunCoke Energy by 287.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 944,307 shares of the energy company’s stock valued at $10,293,000 after buying an additional 700,860 shares in the last quarter. Finally, State Street Corp grew its stake in shares of SunCoke Energy by 16.9% in the 1st quarter. State Street Corp now owns 3,062,681 shares of the energy company’s stock valued at $27,445,000 after buying an additional 443,774 shares in the last quarter. 90.26% of the stock is owned by institutional investors and hedge funds.
About SunCoke Energy
SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.
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