Harsco Corp. (NYSE:HSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
HSC has been the topic of several other research reports. Lake Street Capital initiated coverage on shares of Harsco Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $17.00 price target on the stock. Jefferies Group increased their price objective on shares of Harsco Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, October 3rd.
Shares of Harsco Corp. (NYSE:HSC) traded down 1.09% during trading on Monday, reaching $13.55. The company had a trading volume of 177,219 shares. The stock’s market capitalization is $1.09 billion. Harsco Corp. has a 52-week low of $3.55 and a 52-week high of $13.70. The stock has a 50 day moving average of $10.76 and a 200 day moving average of $9.07.
Harsco Corp. (NYSE:HSC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Harsco Corp. had a negative net margin of 5.21% and a positive return on equity of 11.33%. The business had revenue of $368 million for the quarter, compared to analysts’ expectations of $367.85 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Equities research analysts forecast that Harsco Corp. will post $0.41 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in HSC. Prudential Financial Inc. raised its stake in Harsco Corp. by 15.1% in the first quarter. Prudential Financial Inc. now owns 423,552 shares of the company’s stock valued at $2,308,000 after buying an additional 55,700 shares during the period. BlackRock Fund Advisors raised its stake in shares of Harsco Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 5,042,950 shares of the company’s stock valued at $27,484,000 after buying an additional 18,202 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Harsco Corp. by 13,955,200.0% in the first quarter. JPMorgan Chase & Co. now owns 558,212 shares of the company’s stock valued at $3,042,000 after buying an additional 558,208 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Harsco Corp. by 79.0% in the first quarter. Kennedy Capital Management Inc. now owns 868,055 shares of the company’s stock valued at $4,731,000 after buying an additional 383,110 shares during the last quarter. Finally, Springbok Capital Management LLC raised its stake in shares of Harsco Corp. by 61.8% in the first quarter. Springbok Capital Management LLC now owns 35,100 shares of the company’s stock valued at $191,000 after buying an additional 13,400 shares during the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.
About Harsco Corp.
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.