Koppers Holdings Inc. (KOP) Downgraded to Hold at Zacks Investment Research
Koppers Holdings Inc. (NYSE:KOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Koppers Holdings Inc. is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. “
KOP has been the subject of several other reports. Jefferies Group reaffirmed a “buy” rating on shares of Koppers Holdings in a research report on Wednesday, July 6th. Wunderlich increased their price target on shares of Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Finally, Monness Crespi & Hardt lowered shares of Koppers Holdings from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.00.
Shares of Koppers Holdings (NYSE:KOP) opened at 32.18 on Wednesday. The company’s market capitalization is $664.58 million. Koppers Holdings has a 1-year low of $13.58 and a 1-year high of $33.71. The firm has a 50-day moving average of $31.77 and a 200 day moving average of $28.73.
Koppers Holdings (NYSE:KOP) last posted its earnings results on Thursday, August 4th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. Koppers Holdings had a negative net margin of 4.37% and a positive return on equity of 251.65%. The firm earned $385.10 million during the quarter, compared to analysts’ expectations of $395.95 million. During the same period last year, the company posted $0.68 EPS. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, equities research analysts expect that Koppers Holdings will post $2.14 earnings per share for the current year.
In other Koppers Holdings news, VP Leslie S. Hyde sold 2,850 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $32.48, for a total transaction of $92,568.00. Following the completion of the sale, the vice president now directly owns 25,432 shares in the company, valued at approximately $826,031.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Steven R. Lacy sold 6,670 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $32.76, for a total transaction of $218,509.20. Following the sale, the vice president now owns 57,788 shares of the company’s stock, valued at $1,893,134.88. The disclosure for this sale can be found here. Company insiders own 4.69% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Koppers Holdings by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,795 shares of the company’s stock worth $117,000 after buying an additional 38 shares in the last quarter. Springbok Capital Management LLC raised its stake in Koppers Holdings by 1.9% in the first quarter. Springbok Capital Management LLC now owns 10,700 shares of the company’s stock worth $240,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System raised its stake in Koppers Holdings by 1.9% in the second quarter. Arizona State Retirement System now owns 10,686 shares of the company’s stock worth $328,000 after buying an additional 200 shares in the last quarter. BlackRock Advisors LLC raised its stake in Koppers Holdings by 0.6% in the second quarter. BlackRock Advisors LLC now owns 44,334 shares of the company’s stock worth $1,362,000 after buying an additional 285 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Koppers Holdings by 6.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 11,281 shares of the company’s stock worth $347,000 after buying an additional 710 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.
Koppers Holdings Company Profile
Koppers Holdings Inc is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three business segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The Railroad and Utility Products and Services segment sells treated and untreated wood products, rail joint bars and services primarily to the railroad industry and treated wood products to the utility industry.
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