PQ Group (PQG) Given New $19.00 Price Target at KeyCorp

PQ Group (NYSE:PQG) had its price objective cut by stock analysts at KeyCorp from $21.00 to $19.00 in a report released on Thursday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 26.16% from the stock’s previous close.

A number of other analysts have also issued reports on PQG. BMO Capital Markets increased their price target on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Nomura increased their price target on shares of PQ Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Credit Suisse Group increased their price target on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. lowered shares of PQ Group from an “overweight” rating to a “neutral” rating in a research report on Friday, August 10th. Finally, Citigroup increased their price target on shares of PQ Group from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.29.

PQG stock traded down $0.30 during mid-day trading on Thursday, reaching $15.06. 2,115,520 shares of the stock traded hands, compared to its average volume of 153,453. The company has a current ratio of 2.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.34. PQ Group has a 52-week low of $12.88 and a 52-week high of $18.69. The firm has a market capitalization of $2.18 billion, a PE ratio of 32.74 and a beta of 1.04.

PQ Group (NYSE:PQG) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. PQ Group had a net margin of 6.00% and a return on equity of 6.98%. The company had revenue of $427.20 million during the quarter, compared to analyst estimates of $413.13 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that PQ Group will post 0.86 earnings per share for the current year.

In related news, insider Paul Ferrall sold 4,739 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $17.92, for a total transaction of $84,922.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 86,959 shares of company stock worth $1,553,715. Insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in PQ Group during the second quarter valued at approximately $197,000. Alliancebernstein L.P. bought a new position in PQ Group during the third quarter valued at approximately $222,000. Point72 Asset Management L.P. acquired a new position in PQ Group during the second quarter valued at approximately $329,000. Rhumbline Advisers grew its holdings in PQ Group by 47.9% during the second quarter. Rhumbline Advisers now owns 37,794 shares of the company’s stock valued at $680,000 after purchasing an additional 12,239 shares during the last quarter. Finally, Swiss National Bank acquired a new position in PQ Group during the second quarter valued at approximately $1,273,000. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

PQ Group Company Profile

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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Analyst Recommendations for PQ Group (NYSE:PQG)

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