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.
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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