Glatfelter (GLT) Stock Rating Lowered by BidaskClub
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.
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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.
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.
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