PQ Group Holdings Inc (PQG) Receives Average Rating of “Buy” from Brokerages

PQ Group Holdings Inc (NYSE:PQG) has been given a consensus recommendation of “Buy” by the twelve analysts that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.55.

PQG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered PQ Group from an “overweight” rating to a “neutral” rating in a research note on Friday, August 10th. Credit Suisse Group increased their target price on PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. BMO Capital Markets increased their target price on PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Nomura increased their target price on PQ Group from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Citigroup raised their price objective on PQ Group from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th.

PQG stock opened at $17.45 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.34. PQ Group has a 1 year low of $12.88 and a 1 year high of $18.69. The stock has a market capitalization of $2.36 billion and a PE ratio of 37.93.

PQ Group (NYSE:PQG) last posted its earnings results on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. PQ Group had a return on equity of 5.97% and a net margin of 5.00%. The business had revenue of $434.70 million during the quarter, compared to analyst estimates of $420.44 million. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts predict that PQ Group will post 0.86 earnings per share for the current year.

In other PQ Group news, insider Paul Ferrall sold 4,305 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $17.93, for a total transaction of $77,188.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 86,959 shares of company stock valued at $1,553,715. 3.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC acquired a new stake in PQ Group during the 1st quarter valued at approximately $139,000. Voya Investment Management LLC acquired a new stake in PQ Group during the 2nd quarter valued at approximately $197,000. Point72 Asset Management L.P. acquired a new stake in PQ Group during the 2nd quarter valued at approximately $329,000. New York State Common Retirement Fund acquired a new position in shares of PQ Group in the 1st quarter worth approximately $278,000. Finally, Barclays PLC grew its position in shares of PQ Group by 439.7% in the 1st quarter. Barclays PLC now owns 25,087 shares of the company’s stock worth $350,000 after acquiring an additional 20,439 shares in the last quarter. Hedge funds and other institutional investors own 69.22% of the company’s stock.

About PQ Group

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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