Harsco Corporation (HSC) Upgraded by Argus to Buy

Harsco Corporation (NYSE:HSC) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The brokerage presently has a $21.00 price target on the industrial products company’s stock. Argus’ target price would indicate a potential upside of 17.81% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. BidaskClub downgraded Harsco Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp reiterated an “overweight” rating and set a $19.00 price target (up previously from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. Zacks Investment Research downgraded Harsco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Harsco Corporation in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Harsco Corporation has an average rating of “Buy” and an average target price of $18.71.

Harsco Corporation (NYSE:HSC) traded up 0.84% during midday trading on Friday, reaching $18.00. 236,057 shares of the company were exchanged. Harsco Corporation has a 52-week low of $8.52 and a 52-week high of $18.25. The firm’s 50-day moving average price is $16.58 and its 200 day moving average price is $14.88. The stock’s market capitalization is $1.45 billion.

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

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A number of hedge funds have recently made changes to their positions in the business. Federated Investors Inc. PA grew its holdings in Harsco Corporation by 1.7% during the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE grew its holdings in Harsco Corporation by 0.5% during the second quarter. US Bancorp DE now owns 33,305 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 157 shares during the last quarter. Parkwood LLC grew its holdings in Harsco Corporation by 1.0% during the first quarter. Parkwood LLC now owns 15,819 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 159 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Harsco Corporation by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 18,320 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 290 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in Harsco Corporation by 2.2% during the second quarter. Hanson & Doremus Investment Management now owns 17,070 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 80.68% of the company’s stock.

About Harsco Corporation

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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