Koppers (KOP) Given a $61.00 Price Target at Barrington Research
“We expect profitability to improve over time as the company leverages its vertical integration advantage, improves its self‐sufficiency and realizes revenue synergies from its recent acquisitions. Excluding further acquisitions, the company plans to reduce pro‐forma net debt to approximately 3.5x by year‐ end (3.9x as of June 30) and sub 3.0x by the end of next year. We are reiterating our OUTPERFORM investment rating and price target of $61.”,” Barrington Research’s analyst commented.
A number of other research analysts have also issued reports on the company. ValuEngine upgraded Koppers from a sell rating to a hold rating in a research report on Friday, June 1st. B. Riley set a $60.00 target price on Koppers and gave the company a buy rating in a research report on Friday, August 10th. TheStreet lowered Koppers from a b- rating to a c rating in a research report on Monday, August 13th. Finally, Zacks Investment Research lowered Koppers from a strong-buy rating to a hold rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $50.00.
Koppers (NYSE:KOP) last announced its earnings results on Thursday, August 9th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.18). Koppers had a net margin of 1.47% and a return on equity of 79.35%. The business had revenue of $436.00 million for the quarter, compared to analysts’ expectations of $490.60 million. During the same quarter last year, the business earned $1.18 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. sell-side analysts expect that Koppers will post 4.1 earnings per share for the current year.
In other news, VP R. Michael Johnson acquired 25,000 shares of Koppers stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $35.36 per share, with a total value of $884,000.00. Following the purchase, the vice president now owns 46,534 shares in the company, valued at $1,645,442.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider M Leroy Ball acquired 2,000 shares of Koppers stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average cost of $34.96 per share, with a total value of $69,920.00. The disclosure for this purchase can be found here. Insiders have bought a total of 33,000 shares of company stock worth $1,169,050 in the last quarter. Insiders own 8.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Santori & Peters Inc. raised its stake in Koppers by 6.9% in the 2nd quarter. Santori & Peters Inc. now owns 37,886 shares of the specialty chemicals company’s stock valued at $1,452,000 after purchasing an additional 2,442 shares during the last quarter. Royal Bank of Canada raised its stake in Koppers by 3.3% in the 1st quarter. Royal Bank of Canada now owns 907,203 shares of the specialty chemicals company’s stock valued at $37,286,000 after purchasing an additional 28,943 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Koppers by 13.3% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,438,597 shares of the specialty chemicals company’s stock valued at $55,170,000 after purchasing an additional 168,733 shares during the last quarter. Principal Financial Group Inc. raised its stake in Koppers by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 166,321 shares of the specialty chemicals company’s stock valued at $6,836,000 after purchasing an additional 5,120 shares during the last quarter. Finally, IndexIQ Advisors LLC raised its stake in Koppers by 9.6% in the 2nd quarter. IndexIQ Advisors LLC now owns 53,221 shares of the specialty chemicals company’s stock valued at $2,041,000 after purchasing an additional 4,671 shares during the last quarter. 89.20% of the stock is owned by hedge funds and other institutional investors.
Koppers Company Profile
Koppers Holdings Inc, through its subsidiaries, provides treated wood products, wood treatment chemicals, and carbon compounds in the United States and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
See Also: Index Funds
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