Zacks Investment Research upgraded shares of Koppers (NYSE:KOP) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $47.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
Other research analysts have also recently issued reports about the company. B. Riley restated a buy rating and issued a $65.00 price objective on shares of Koppers in a research note on Tuesday, December 19th. TheStreet cut Koppers from a b- rating to a c rating in a research note on Tuesday, February 27th. Finally, ValuEngine cut Koppers from a buy rating to a hold rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Koppers has a consensus rating of Buy and an average target price of $48.33.
Koppers (NYSE:KOP) last announced its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Koppers had a return on equity of 94.85% and a net margin of 1.97%. The firm had revenue of $366.10 million during the quarter, compared to analysts’ expectations of $308.05 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. research analysts anticipate that Koppers will post 4.03 EPS for the current year.
Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Koppers by 10.3% during the fourth quarter. BlackRock Inc. now owns 2,831,311 shares of the specialty chemicals company’s stock valued at $144,115,000 after acquiring an additional 265,470 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Koppers during the fourth quarter valued at approximately $6,109,000. Renaissance Technologies LLC raised its position in Koppers by 55.6% during the fourth quarter. Renaissance Technologies LLC now owns 331,400 shares of the specialty chemicals company’s stock valued at $16,868,000 after acquiring an additional 118,400 shares in the last quarter. EAM Investors LLC purchased a new position in Koppers during the fourth quarter valued at approximately $3,236,000. Finally, Wells Fargo & Company MN raised its position in Koppers by 109.9% during the fourth quarter. Wells Fargo & Company MN now owns 118,603 shares of the specialty chemicals company’s stock valued at $6,038,000 after acquiring an additional 62,104 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
Koppers Company Profile
Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
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