Kraton (KRA) Downgraded by ValuEngine
ValuEngine cut shares of Kraton (NYSE:KRA) from a strong-buy rating to a buy rating in a report issued on Friday morning.
A number of other brokerages also recently issued reports on KRA. Zacks Investment Research upgraded Kraton from a sell rating to a hold rating and set a $56.00 price objective for the company in a research note on Saturday, October 28th. TheStreet downgraded Kraton from a b- rating to a c rating in a research note on Wednesday, October 25th. UBS boosted their price objective on Kraton from $28.00 to $30.00 and gave the company a sell rating in a research note on Wednesday, October 25th. SunTrust Banks reiterated a buy rating and set a $55.00 price objective (up from $45.00) on shares of Kraton in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Finally, Loop Capital initiated coverage on Kraton in a research note on Thursday, September 28th. They set a buy rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $51.50.
Kraton (KRA) traded down $0.32 during trading on Friday, hitting $46.73. The company’s stock had a trading volume of 281,200 shares, compared to its average volume of 319,405. The company has a market cap of $1,462.47, a P/E ratio of 18.92 and a beta of 1.19. Kraton has a 1-year low of $25.09 and a 1-year high of $51.23. The company has a current ratio of 2.27, a quick ratio of 1.19 and a debt-to-equity ratio of 2.85.
Kraton (NYSE:KRA) last released its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.57. The business had revenue of $510.90 million during the quarter, compared to the consensus estimate of $481.77 million. Kraton had a return on equity of 14.19% and a net margin of 1.27%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. equities research analysts forecast that Kraton will post 2.96 EPS for the current fiscal year.
In related news, CEO Kevin Michael Fogarty sold 81,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $49.09, for a total value of $3,997,398.70. Following the transaction, the chief executive officer now directly owns 278,119 shares of the company’s stock, valued at approximately $13,652,861.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen E. Tremblay sold 49,623 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.02, for a total value of $2,382,896.46. Following the completion of the transaction, the insider now directly owns 83,930 shares in the company, valued at $4,030,318.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,614 shares of company stock valued at $10,434,139. 4.71% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in Kraton by 0.6% in the 2nd quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 21 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Kraton by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 17,059 shares of the specialty chemicals company’s stock worth $588,000 after purchasing an additional 44 shares in the last quarter. Arizona State Retirement System lifted its holdings in Kraton by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 16,206 shares of the specialty chemicals company’s stock worth $558,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Kraton by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the specialty chemicals company’s stock worth $437,000 after purchasing an additional 100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Kraton by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,046 shares of the specialty chemicals company’s stock worth $794,000 after purchasing an additional 286 shares in the last quarter. 97.50% of the stock is currently owned by institutional investors.
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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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