Zacks Investment Research Lowers Kraton (NYSE:KRA) to Hold

Zacks Investment Research cut shares of Kraton (NYSE:KRA) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas. “

A number of other equities analysts have also weighed in on KRA. UBS Group upgraded shares of Kraton from a sell rating to a neutral rating and lifted their price objective for the company from $34.00 to $46.50 in a research report on Thursday, September 30th. Loop Capital lowered shares of Kraton from a buy rating to a hold rating and set a $46.50 price objective on the stock. in a research report on Tuesday, September 28th.

Shares of Kraton stock opened at $46.32 on Wednesday. The firm’s fifty day simple moving average is $46.13 and its 200-day simple moving average is $42.26. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.14 and a beta of 2.15. Kraton has a 12 month low of $26.70 and a 12 month high of $46.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.62 and a quick ratio of 0.75.

Kraton (NYSE:KRA) last announced its earnings results on Wednesday, October 27th. The specialty chemicals company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19. The business had revenue of $526.89 million for the quarter, compared to analysts’ expectations of $464.70 million. Kraton had a net margin of 5.40% and a return on equity of 9.50%. Analysts anticipate that Kraton will post 2.63 earnings per share for the current year.

In related news, CEO Kevin Michael Fogarty sold 77,485 shares of Kraton stock in a transaction on Monday, December 13th. The shares were sold at an average price of $45.72, for a total value of $3,542,614.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.32% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Kraton by 13.5% during the 2nd quarter. Bank of Montreal Can now owns 11,663 shares of the specialty chemicals company’s stock worth $374,000 after purchasing an additional 1,387 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Kraton during the 3rd quarter worth $259,000. State Board of Administration of Florida Retirement System boosted its position in shares of Kraton by 9.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,697 shares of the specialty chemicals company’s stock worth $475,000 after purchasing an additional 1,290 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Kraton during the 2nd quarter worth $507,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of Kraton during the 2nd quarter worth $219,000. Institutional investors own 96.58% of the company’s stock.

Kraton Company Profile

Kraton Corp. engages in the manufacture and marketing of styrenic block copolymers, specialty polymers, and other products primarily derived from pine wood pulping co-products. It operates through the Polymer and Chemical segment. The Polymer segment includes styrenic block copolymers and other engineered polymers business.

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