PQ Group (PQG) Rating Lowered to Sell at Zacks Investment Research
PQ Group (NYSE:PQG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “PQ Group Holdings Inc. is an integrated, provider of catalysts, specialty materials and chemicals and services. It operates primarily in North America, Europe, South America and Asia. The company serves refinery, emissions control and petrochemical industries. PQ Group Holdings Inc. is based in MALVERN, United States. “
PQG has been the topic of a number of other research reports. Nomura upped their target price on shares of PQ Group from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, August 10th. JPMorgan Chase & Co. lowered shares of PQ Group from an “overweight” rating to a “neutral” rating in a research note on Friday, August 10th. Citigroup increased their price objective on shares of PQ Group from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Credit Suisse Group increased their price objective on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Finally, BMO Capital Markets increased their price objective on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.23.
PQ Group (NYSE:PQG) last posted its earnings results on Thursday, August 9th. The company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. PQ Group had a net margin of 5.00% and a return on equity of 5.97%. The company had revenue of $434.70 million for the quarter, compared to analyst estimates of $420.44 million. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that PQ Group will post 0.86 EPS for the current fiscal year.
In other PQ Group news, insider Paul Ferrall sold 53,323 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $17.87, for a total value of $952,882.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 86,959 shares of company stock valued at $1,553,715. Company insiders own 3.30% of the company’s stock.
Large investors have recently bought and sold shares of the business. Northern Trust Corp increased its stake in PQ Group by 2.8% in the 1st quarter. Northern Trust Corp now owns 307,577 shares of the company’s stock valued at $4,297,000 after buying an additional 8,469 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of PQ Group during the 2nd quarter valued at approximately $2,684,000. Federated Investors Inc. PA grew its position in shares of PQ Group by 2.5% during the 2nd quarter. Federated Investors Inc. PA now owns 557,055 shares of the company’s stock valued at $10,027,000 after acquiring an additional 13,790 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of PQ Group during the 1st quarter valued at approximately $139,000. Finally, Barclays PLC grew its position in shares of PQ Group by 439.7% during the 1st quarter. Barclays PLC now owns 25,087 shares of the company’s stock valued at $350,000 after acquiring an additional 20,439 shares during the period. Hedge funds and other institutional investors own 69.22% of the company’s stock.
About PQ Group
PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.
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