Harsco Corp. (HSC) Sets New 1-Year High After Analyst Upgrade
Shares of Harsco Corp. (NYSE:HSC) hit a new 52-week high during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $12.00 to $16.00. KeyCorp currently has an overweight rating on the stock. Harsco Corp. traded as high as $13.75 and last traded at $13.78, with a volume of 339,097 shares traded. The stock had previously closed at $13.20.
Several other analysts also recently weighed in on HSC. Jefferies Group reiterated a “buy” rating on shares of Harsco Corp. in a research report on Monday, August 1st. Lake Street Capital started coverage on Harsco Corp. in a research report on Tuesday, September 13th. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Investment Research downgraded Harsco Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, TheStreet upgraded Harsco Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, November 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Harsco Corp. has an average rating of “Hold” and a consensus price target of $14.50.
Institutional investors have recently made changes to their positions in the stock. Princeton Alpha Management LP acquired a new position in shares of Harsco Corp. during the second quarter worth approximately $132,000. Phoenix Investment Adviser LLC increased its position in Harsco Corp. by 66.7% in the second quarter. Phoenix Investment Adviser LLC now owns 80,000 shares of the company’s stock worth $531,000 after buying an additional 32,000 shares during the period. GSA Capital Partners LLP increased its position in Harsco Corp. by 62.6% in the second quarter. GSA Capital Partners LLP now owns 387,364 shares of the company’s stock worth $2,572,000 after buying an additional 149,164 shares during the period. California Public Employees Retirement System increased its position in Harsco Corp. by 13.8% in the second quarter. California Public Employees Retirement System now owns 517,053 shares of the company’s stock worth $3,433,000 after buying an additional 62,900 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in Harsco Corp. during the second quarter worth about $501,000. Institutional investors own 81.67% of the company’s stock.
The stock has a 50-day moving average price of $10.95 and a 200-day moving average price of $9.20. The stock’s market capitalization is $1.12 billion.
Harsco Corp. (NYSE:HSC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The business earned $368 million during the quarter, compared to analysts’ expectations of $367.85 million. Harsco Corp. had a positive return on equity of 11.33% and a negative net margin of 5.21%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Analysts forecast that Harsco Corp. will post $0.41 EPS for the current year.
About Harsco Corp.
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.
Receive News & Ratings for Harsco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harsco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.