Kraton (KRA) Stock Rating Lowered by Zacks Investment Research
Kraton (NYSE:KRA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas. “
A number of other equities analysts have also weighed in on the stock. Loop Capital started coverage on shares of Kraton in a research report on Thursday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. KeyCorp restated a “hold” rating on shares of Kraton in a research report on Friday, September 1st. TheStreet lowered shares of Kraton from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. ValuEngine lowered shares of Kraton from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, UBS Group started coverage on shares of Kraton in a report on Friday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.50.
Kraton (NYSE:KRA) opened at $48.86 on Tuesday. The firm has a market cap of $1,530.00, a PE ratio of 63.45 and a beta of 1.18. Kraton has a 52-week low of $25.09 and a 52-week high of $51.23. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.19 and a current ratio of 2.27.
Kraton (NYSE:KRA) last posted its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.57. The firm had revenue of $510.90 million for the quarter, compared to analyst estimates of $481.77 million. Kraton had a net margin of 1.27% and a return on equity of 14.19%. Kraton’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. analysts anticipate that Kraton will post 2.96 EPS for the current fiscal year.
In other news, CEO Kevin Michael Fogarty sold 81,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were 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 directly owns 278,119 shares of the company’s stock, valued at approximately $13,652,861.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen E. Tremblay sold 49,623 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.02, for a total transaction of $2,382,896.46. Following the completion of the sale, the insider now directly owns 83,930 shares in the company, valued at $4,030,318.60. The disclosure for this sale can be found here. Insiders sold a total of 219,656 shares of company stock worth $10,486,239 over the last three months. Insiders own 4.71% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in KRA. SG Americas Securities LLC acquired a new position in Kraton during the 3rd quarter worth approximately $169,000. LS Investment Advisors LLC grew its holdings in Kraton by 31.4% during the 3rd quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock worth $217,000 after acquiring an additional 1,282 shares in the last quarter. 361 Capital LLC acquired a new position in Kraton during the 3rd quarter worth approximately $223,000. Magnetar Financial LLC acquired a new position in Kraton during the 3rd quarter worth approximately $232,000. Finally, Nine Chapters Capital Management LLC acquired a new position in Kraton during the 3rd quarter worth approximately $243,000. 97.46% of the stock is currently owned by hedge funds and other institutional investors.
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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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