Kraton Corporation (NYSE:KRA) Upgraded to Buy by BidaskClub
BidaskClub upgraded shares of Kraton Corporation (NYSE:KRA) from a hold rating to a buy rating in a report published on Monday morning.
KRA has been the subject of several other reports. TheStreet raised shares of Kraton Corporation from a c+ rating to a b- rating in a report on Thursday, April 27th. Zacks Investment Research lowered shares of Kraton Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 5th. Finally, UBS AG reaffirmed a sell rating and set a $26.00 target price (up from $24.00) on shares of Kraton Corporation in a report on Friday, April 28th.
Kraton Corporation (NYSE KRA) traded up 1.02% during trading on Monday, hitting $36.72. 162,759 shares of the company’s stock were exchanged. Kraton Corporation has a 12-month low of $24.95 and a 12-month high of $37.50. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 26.36 and a beta of 1.23. The company’s 50-day moving average price is $33.91 and its 200 day moving average price is $31.18.
Kraton Corporation (NYSE:KRA) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.24. The firm had revenue of $525.30 million during the quarter, compared to analyst estimates of $506.58 million. Kraton Corporation had a net margin of 2.36% and a return on equity of 9.52%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities analysts forecast that Kraton Corporation will post $2.28 earnings per share for the current fiscal year.
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In related news, SVP James Leo Simmons sold 4,252 shares of Kraton Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.81, for a total value of $156,516.12. Following the sale, the senior vice president now owns 25,695 shares of the company’s stock, valued at approximately $945,832.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.01% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Wilen Investment Management CORP. increased its position in shares of Kraton Corporation by 19.3% in the first quarter. Wilen Investment Management CORP. now owns 77,842 shares of the specialty chemicals company’s stock valued at $2,374,000 after buying an additional 12,600 shares during the last quarter. Eagle Boston Investment Management Inc. increased its position in shares of Kraton Corporation by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 238,328 shares of the specialty chemicals company’s stock valued at $7,369,000 after buying an additional 12,473 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Kraton Corporation by 187.5% in the first quarter. Rubric Capital Management LP now owns 575,000 shares of the specialty chemicals company’s stock valued at $17,779,000 after buying an additional 375,000 shares during the last quarter. Norges Bank purchased a new position in shares of Kraton Corporation during the fourth quarter valued at approximately $7,289,000. Finally, James Investment Research Inc. purchased a new position in shares of Kraton Corporation during the first quarter valued at approximately $2,133,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Kraton Corporation Company Profile
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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