Zacks Investment Research downgraded shares of Koppers Holdings Inc. (NYSE:KOP) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Koppers Holdings Inc. is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. “
A number of other equities analysts have also weighed in on the stock. Jefferies Group reiterated a buy rating on shares of Koppers Holdings in a report on Wednesday, July 6th. Wunderlich lifted their price target on shares of Koppers Holdings from $32.00 to $39.00 and gave the company a buy rating in a report on Thursday, June 30th. Finally, Monness Crespi & Hardt lowered shares of Koppers Holdings from a buy rating to a neutral rating in a report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $37.00.
Shares of Koppers Holdings (NYSE:KOP) opened at 32.54 on Wednesday. The stock’s 50 day moving average price is $31.75 and its 200-day moving average price is $28.75. The stock’s market cap is $672.02 million. Koppers Holdings has a 52-week low of $13.58 and a 52-week high of $33.71.
Koppers Holdings (NYSE:KOP) last released its earnings results on Thursday, August 4th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. The firm earned $385.10 million during the quarter, compared to analysts’ expectations of $395.95 million. Koppers Holdings had a negative net margin of 4.37% and a positive return on equity of 251.65%. Koppers Holdings’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, analysts predict that Koppers Holdings will post $2.14 earnings per share for the current fiscal year.
In related news, VP Leslie S. Hyde sold 2,850 shares of Koppers Holdings stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $32.48, for a total transaction of $92,568.00. Following the transaction, the vice president now owns 25,432 shares in the company, valued at approximately $826,031.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven R. Lacy sold 6,670 shares of Koppers Holdings stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $32.76, for a total transaction of $218,509.20. Following the transaction, the vice president now owns 57,788 shares in the company, valued at approximately $1,893,134.88. The disclosure for this sale can be found here. 4.69% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Capstone Asset Management Co. acquired a new position in Koppers Holdings during the third quarter valued at $207,000. Mason Street Advisors LLC acquired a new position in Koppers Holdings during the second quarter valued at $124,000. Royal Bank of Canada raised its position in Koppers Holdings by 2.8% in the second quarter. Royal Bank of Canada now owns 1,192,731 shares of the company’s stock valued at $36,653,000 after buying an additional 32,015 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Koppers Holdings by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,795 shares of the company’s stock valued at $117,000 after buying an additional 38 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Koppers Holdings by 8.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 294,272 shares of the company’s stock valued at $9,043,000 after buying an additional 22,476 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.
Koppers Holdings Company Profile
Koppers Holdings Inc is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three business segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The Railroad and Utility Products and Services segment sells treated and untreated wood products, rail joint bars and services primarily to the railroad industry and treated wood products to the utility industry.