Glatfelter (NYSE:GLT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BMO Capital Markets upgraded Glatfelter from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $23.00 to $24.00 in a report on Friday, May 5th. TheStreet upgraded Glatfelter from a “c” rating to a “b-” rating in a report on Tuesday, May 2nd. Finally, ValuEngine upgraded Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 price objective on the stock in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.69.

Glatfelter (NYSE GLT) traded up 0.66% during mid-day trading on Friday, reaching $16.85. The company had a trading volume of 122,642 shares. The firm has a 50-day moving average of $18.53 and a 200 day moving average of $20.04. Glatfelter has a 1-year low of $16.53 and a 1-year high of $25.59. The company has a market capitalization of $734.37 million, a PE ratio of 79.86 and a beta of 1.31.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.14. The company had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. Glatfelter’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. On average, analysts predict that Glatfelter will post $1.10 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Glatfelter (GLT) Stock Rating Lowered by BidaskClub” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/27/glatfelter-glt-stock-rating-lowered-by-bidaskclub.html.

In other Glatfelter news, Director Nicholas Debenedictis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the acquisition, the director now owns 57,935 shares of the company’s stock, valued at approximately $1,020,814.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Dante C. Parrini acquired 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the completion of the acquisition, the chairman now directly owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock worth $121,116,000 after buying an additional 5,559,264 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Glatfelter during the second quarter worth approximately $29,208,000. Denver Investment Advisors LLC boosted its position in Glatfelter by 181.3% in the second quarter. Denver Investment Advisors LLC now owns 781,173 shares of the basic materials company’s stock worth $15,264,000 after buying an additional 503,438 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in Glatfelter by 68.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 686,238 shares of the basic materials company’s stock worth $13,409,000 after buying an additional 279,444 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Glatfelter by 6.4% in the first quarter. Vanguard Group Inc. now owns 3,994,968 shares of the basic materials company’s stock worth $86,850,000 after buying an additional 240,676 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

About Glatfelter

P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.

Receive News & Stock Ratings for Glatfelter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glatfelter and related stocks with our FREE daily email newsletter.