Harsco (HSC) Upgraded to Strong-Buy at Zacks Investment Research
Harsco (NYSE:HSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm currently has a $22.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.88% from the company’s current price.
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. “
A number of other analysts also recently issued reports on HSC. ValuEngine downgraded Harsco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Argus lifted their price objective on Harsco to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.00.
Harsco (NYSE:HSC) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. Harsco had a return on equity of 32.46% and a net margin of 1.69%. The business had revenue of $384.65 million for the quarter, compared to the consensus estimate of $398.85 million. During the same quarter in the previous year, the company posted $0.14 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts expect that Harsco will post 0.68 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. First Quadrant L P CA purchased a new position in shares of Harsco in the 3rd quarter worth approximately $263,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Harsco during the 2nd quarter valued at $283,000. Parametrica Management Ltd purchased a new position in Harsco during the 3rd quarter valued at $708,000. WINTON GROUP Ltd purchased a new position in Harsco during the 2nd quarter valued at $895,000. Finally, Eagle Boston Investment Management Inc. boosted its holdings in Harsco by 15.2% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 65,726 shares of the industrial products company’s stock valued at $1,403,000 after acquiring an additional 8,678 shares during the period. Hedge funds and other institutional investors own 81.37% of the company’s stock.
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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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