Harsco Corporation (HSC) Stock Rating Upgraded by Zacks Investment Research

Harsco Corporation (NYSE:HSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $19.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.76% from the company’s previous close.

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. “

Several other brokerages also recently commented on HSC. BidaskClub upgraded shares of Harsco Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. KeyCorp restated an “overweight” rating and issued a $19.00 price target (up previously from $17.50) on shares of Harsco Corporation in a research report on Monday, June 26th. Finally, Lake Street Capital restated a “buy” rating on shares of Harsco Corporation in a research report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $18.50.

Shares of Harsco Corporation (HSC) opened at 16.85 on Tuesday. The stock’s market capitalization is $1.35 billion. Harsco Corporation has a 1-year low of $8.52 and a 1-year high of $17.80. The firm has a 50-day moving average of $16.02 and a 200 day moving average of $14.36.

Harsco Corporation (NYSE:HSC) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The business had revenue of $394.89 million during the quarter, compared to analyst estimates of $384.40 million. During the same period in the prior year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts anticipate that Harsco Corporation will post $0.64 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of HSC. Great West Life Assurance Co. Can increased its stake in shares of Harsco Corporation by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 112,844 shares of the industrial products company’s stock valued at $1,433,000 after buying an additional 7,162 shares during the period. Adams Diversified Equity Fund Inc. increased its stake in shares of Harsco Corporation by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 107,200 shares of the industrial products company’s stock valued at $1,367,000 after buying an additional 3,000 shares during the period. New Jersey Better Educational Savings Trust increased its stake in shares of Harsco Corporation by 11.1% in the first quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the industrial products company’s stock valued at $255,000 after buying an additional 2,000 shares during the period. Strs Ohio increased its stake in shares of Harsco Corporation by 3.9% in the first quarter. Strs Ohio now owns 68,600 shares of the industrial products company’s stock valued at $874,000 after buying an additional 2,600 shares during the period. Finally, Shell Asset Management Co. purchased a new stake in shares of Harsco Corporation during the first quarter valued at approximately $1,125,000. Institutional investors and hedge funds own 82.90% of the company’s stock.

Harsco Corporation Company Profile

Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.

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