Harsco (NYSE:HSC) Downgraded to Sell at ValuEngine

Harsco (NYSE:HSC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

A number of other brokerages have also weighed in on HSC. Zacks Investment Research lowered Harsco from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, July 2nd. KeyCorp raised their price objective on Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Finally, Lake Street Capital increased their price target on shares of Harsco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.75.

Shares of Harsco stock traded up $0.11 during trading on Thursday, reaching $21.10. 1,383,214 shares of the stock traded hands, compared to its average volume of 508,775. The firm has a market cap of $1.69 billion, a P/E ratio of 16.11 and a beta of 2.14. The firm’s fifty day moving average price is $25.94. The company has a debt-to-equity ratio of 3.85, a current ratio of 1.47 and a quick ratio of 1.17. Harsco has a 52-week low of $18.87 and a 52-week high of $30.05.

Harsco (NYSE:HSC) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.16). The firm had revenue of $350.90 million for the quarter, compared to analysts’ expectations of $478.30 million. Harsco had a net margin of 6.43% and a return on equity of 31.17%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, sell-side analysts predict that Harsco will post 1.45 EPS for the current year.

In related news, SVP Scott H. Gerson sold 4,428 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $25.97, for a total value of $114,995.16. Following the completion of the transaction, the senior vice president now owns 17,633 shares of the company’s stock, valued at approximately $457,929.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott H. Gerson sold 9,308 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.26, for a total transaction of $235,120.08. Following the completion of the transaction, the senior vice president now directly owns 22,374 shares of the company’s stock, valued at approximately $565,167.24. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Pearl River Capital LLC bought a new position in shares of Harsco in the 1st quarter valued at about $48,000. Quantamental Technologies LLC bought a new stake in Harsco in the first quarter worth about $145,000. Strs Ohio lifted its stake in Harsco by 7.8% in the second quarter. Strs Ohio now owns 6,900 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 500 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Harsco in the second quarter worth about $210,000. Finally, Everence Capital Management Inc. bought a new stake in Harsco in the first quarter worth about $212,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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