Stepan Company (NYSE:SCL) PT Lowered to $36.00
Stepan Company (NYSE:SCL) had its target price reduced by investment analysts at BMO Capital Markets from $42.00 to $36.00 in a research report issued on Monday, StockTargetPrices.com reports. BMO Capital Markets’ price objective points to a potential downside of 54.38% from the stock’s previous close.
SCL has been the subject of several other research reports. BidaskClub lowered Stepan from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Industrial Alliance Securities upgraded Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a report on Monday, May 29th. Zacks Investment Research upgraded Stepan from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a research note on Thursday, May 4th. National Bank Financial reduced their target price on Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, June 26th. Finally, ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $52.00.
Shares of Stepan (NYSE SCL) traded up 0.58% on Monday, reaching $79.37. The company’s stock had a trading volume of 17,777 shares. The firm has a 50-day moving average price of $85.63 and a 200 day moving average price of $82.08. The firm has a market capitalization of $1.79 billion, a PE ratio of 20.66 and a beta of 1.26. Stepan has a one year low of $66.20 and a one year high of $92.97.
Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by $0.02. Stepan had a net margin of 4.85% and a return on equity of 14.95%. The business had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $472.35 million. During the same quarter in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts anticipate that Stepan will post $4.58 earnings per share for the current fiscal year.
In other news, Director F Quinn Stepan sold 8,865 shares of Stepan stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.50, for a total transaction of $713,632.50. Following the sale, the director now owns 287,962 shares of the company’s stock, valued at approximately $23,180,941. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its stake in Stepan by 455.2% in the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after buying an additional 965 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Stepan by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock valued at $124,000 after buying an additional 28 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Stepan during the first quarter valued at approximately $134,000. Acrospire Investment Management LLC raised its stake in Stepan by 224.9% in the second quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock valued at $138,000 after buying an additional 1,100 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Stepan by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,904 shares of the basic materials company’s stock valued at $150,000 after buying an additional 34 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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