P H Glatfelter (GLT) Rating Increased to Buy at Zacks Investment Research

P H Glatfelter (NYSE:GLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $16.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.50% from the stock’s current price.

According to Zacks, “Glatfelter is a global supplier of specialty papers and engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Headquartered in York, PA, the Company serves customers. operations include facilities in Pennsylvania and Ohio. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, and sales and distribution offices in China and Russia. “

Several other equities research analysts have also weighed in on GLT. BMO Capital Markets decreased their price objective on P H Glatfelter from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. ValuEngine lowered P H Glatfelter from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.50.

GLT traded up $0.20 during trading hours on Friday, hitting $14.48. The stock had a trading volume of 209,587 shares, compared to its average volume of 304,355. P H Glatfelter has a 1 year low of $9.28 and a 1 year high of $22.55. The firm has a market cap of $637.45 million, a P/E ratio of 68.95, a price-to-earnings-growth ratio of 4.40 and a beta of 1.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.27 and a current ratio of 2.02.

P H Glatfelter (NYSE:GLT) last announced its quarterly earnings data on Tuesday, February 5th. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). P H Glatfelter had a positive return on equity of 0.87% and a negative net margin of 14.12%. The firm had revenue of $229.48 million during the quarter, compared to analysts’ expectations of $224.89 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that P H Glatfelter will post 0.65 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its stake in P H Glatfelter by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 28,650 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 1,104 shares during the period. Principal Financial Group Inc. boosted its stake in P H Glatfelter by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 355,449 shares of the basic materials company’s stock worth $3,469,000 after purchasing an additional 1,962 shares during the period. Arizona State Retirement System boosted its stake in P H Glatfelter by 6.2% in the 4th quarter. Arizona State Retirement System now owns 67,424 shares of the basic materials company’s stock worth $658,000 after purchasing an additional 3,917 shares during the period. PNC Financial Services Group Inc. boosted its stake in P H Glatfelter by 1.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 309,137 shares of the basic materials company’s stock worth $3,017,000 after purchasing an additional 5,557 shares during the period. Finally, Legal & General Group Plc boosted its stake in P H Glatfelter by 10.4% in the 3rd quarter. Legal & General Group Plc now owns 102,205 shares of the basic materials company’s stock worth $1,953,000 after purchasing an additional 9,589 shares during the period. 94.54% of the stock is owned by institutional investors.

P H Glatfelter Company Profile

P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells specialty papers and engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.

See Also: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on P H Glatfelter (GLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for P H Glatfelter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for P H Glatfelter and related companies with MarketBeat.com's FREE daily email newsletter.