Harsco Corp. (HSC) Trading 1.7% Higher After Analyst Upgrade
Shares of Harsco Corp. (NYSE:HSC) traded up 1.7% during mid-day trading on Monday after Jefferies Group raised their price target on the stock from $10.00 to $12.00. Jefferies Group currently has a buy rating on the stock. Harsco Corp. traded as high as $10.23 and last traded at $10.10, with a volume of 253,409 shares changing hands. The stock had previously closed at $9.93.
HSC has been the subject of several other reports. Zacks Investment Research downgraded Harsco Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Lake Street Capital initiated coverage on Harsco Corp. in a research note on Tuesday, September 13th. They set a “buy” rating and a $17.00 target price for the company.
Several hedge funds have recently made changes to their positions in HSC. BlackRock Fund Advisors increased its position in Harsco Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 5,042,950 shares of the company’s stock worth $27,484,000 after buying an additional 18,202 shares during the period. Prudential Financial Inc. increased its position in Harsco Corp. by 15.1% in the first quarter. Prudential Financial Inc. now owns 423,552 shares of the company’s stock worth $2,308,000 after buying an additional 55,700 shares during the period. Kennedy Capital Management Inc. increased its position in Harsco Corp. by 79.0% in the first quarter. Kennedy Capital Management Inc. now owns 868,055 shares of the company’s stock worth $4,731,000 after buying an additional 383,110 shares during the period. Ngam Advisors L.P. increased its position in Harsco Corp. by 23.8% in the first quarter. Ngam Advisors L.P. now owns 40,372 shares of the company’s stock worth $220,000 after buying an additional 7,765 shares during the period. Finally, Menta Capital LLC increased its position in Harsco Corp. by 112.6% in the first quarter. Menta Capital LLC now owns 48,904 shares of the company’s stock worth $267,000 after buying an additional 25,900 shares during the period. Institutional investors own 80.64% of the company’s stock.
The stock’s market capitalization is $809.76 million. The company has a 50-day moving average price of $9.79 and a 200-day moving average price of $7.80.
Harsco Corp. (NYSE:HSC) last issued its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company earned $370 million during the quarter, compared to analyst estimates of $377.30 million. Harsco Corp. had a negative net margin of 3.42% and a positive return on equity of 12.38%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Analysts anticipate that Harsco Corp. will post $0.39 EPS for the current fiscal year.
Harsco Corp. Company Profile
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.
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