Koppers (NYSE:KOP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $32.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 14.65% from the stock’s current price.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
Other equities research analysts have also issued research reports about the company. Barrington Research reissued a “buy” rating and issued a $35.00 target price on shares of Koppers in a research report on Friday, October 4th. ValuEngine raised Koppers from a “strong sell” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $37.00 price target (up previously from $33.00) on shares of Koppers in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $37.20.
Shares of Koppers stock opened at $27.91 on Tuesday. The business’s 50 day simple moving average is $28.09 and its 200 day simple moving average is $27.73. Koppers has a 52-week low of $15.00 and a 52-week high of $31.79. The firm has a market cap of $553.06 million, a PE ratio of 7.97, a P/E/G ratio of 0.44 and a beta of 1.09. The company has a debt-to-equity ratio of 10.54, a quick ratio of 1.00 and a current ratio of 2.01.
Koppers (NYSE:KOP) last announced its earnings results on Thursday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.17. Koppers had a return on equity of 77.19% and a net margin of 1.76%. The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $491.43 million. During the same quarter last year, the firm earned $0.93 EPS. Koppers’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Koppers will post 3.36 EPS for the current year.
In other Koppers news, Director Xudong Feng sold 2,442 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $26.92, for a total transaction of $65,738.64. Following the transaction, the director now owns 27,510 shares of the company’s stock, valued at approximately $740,569.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Leslie S. Hyde sold 2,687 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $29.72, for a total value of $79,857.64. Following the transaction, the vice president now directly owns 34,655 shares in the company, valued at approximately $1,029,946.60. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of KOP. Prudential Financial Inc. increased its holdings in shares of Koppers by 244.6% during the 2nd quarter. Prudential Financial Inc. now owns 499,666 shares of the specialty chemicals company’s stock worth $14,670,000 after acquiring an additional 354,654 shares during the last quarter. LSV Asset Management increased its holdings in shares of Koppers by 20.0% during the 2nd quarter. LSV Asset Management now owns 372,286 shares of the specialty chemicals company’s stock worth $10,930,000 after acquiring an additional 62,100 shares during the last quarter. THB Asset Management increased its holdings in shares of Koppers by 5.2% during the 2nd quarter. THB Asset Management now owns 327,259 shares of the specialty chemicals company’s stock worth $9,608,000 after acquiring an additional 16,066 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Koppers by 0.4% during the 2nd quarter. Northern Trust Corp now owns 294,667 shares of the specialty chemicals company’s stock worth $8,651,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Koppers by 8.2% during the 2nd quarter. Bank of America Corp DE now owns 190,473 shares of the specialty chemicals company’s stock worth $5,593,000 after acquiring an additional 14,435 shares during the last quarter. 93.17% of the stock is currently 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).
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