Zacks Investment Research Lowers Harsco (HSC) to Sell

Zacks Investment Research lowered shares of Harsco (NYSE:HSC) from a hold rating to a sell rating in a research report released on Wednesday.

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. “

Other analysts also recently issued reports about the company. Lake Street Capital upped their price objective on Harsco from $31.00 to $33.00 and gave the stock a buy rating in a research report on Wednesday, October 31st. ValuEngine upgraded Harsco from a hold rating to a buy rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $30.50.

Shares of HSC stock opened at $22.71 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.45 and a debt-to-equity ratio of 1.87. Harsco has a twelve month low of $18.87 and a twelve month high of $30.05. The firm has a market cap of $1.82 billion, a P/E ratio of 17.34 and a beta of 2.45.

Harsco (NYSE:HSC) last announced its quarterly earnings data on Thursday, February 21st. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Harsco had a return on equity of 38.66% and a net margin of 7.96%. The business had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.23 million. During the same period in the prior year, the company earned $0.20 EPS. Harsco’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, research analysts expect that Harsco will post 1.42 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in Harsco in the third quarter valued at about $460,000. Meeder Asset Management Inc. raised its position in Harsco by 30.4% in the fourth quarter. Meeder Asset Management Inc. now owns 11,733 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 2,736 shares during the last quarter. Heartland Advisors Inc. raised its position in Harsco by 3.1% in the third quarter. Heartland Advisors Inc. now owns 547,254 shares of the industrial products company’s stock valued at $15,624,000 after purchasing an additional 16,595 shares during the last quarter. Nordea Investment Management AB raised its position in Harsco by 41.1% in the third quarter. Nordea Investment Management AB now owns 176,184 shares of the industrial products company’s stock valued at $5,030,000 after purchasing an additional 51,345 shares during the last quarter. Finally, Smith Asset Management Group LP raised its position in Harsco by 2.6% in the third quarter. Smith Asset Management Group LP now owns 117,938 shares of the industrial products company’s stock valued at $3,367,000 after purchasing an additional 2,956 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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