Loop Capital Begins Coverage on Kraton Corporation (KRA)
Loop Capital assumed coverage on shares of Kraton Corporation (NYSE:KRA) in a research note released on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $65.00 price target on the specialty chemicals company’s stock.
KRA has been the topic of a number of other research reports. UBS AG reissued a sell rating and set a $27.00 price objective (up previously from $26.00) on shares of Kraton Corporation in a research report on Sunday, June 25th. BidaskClub downgraded Kraton Corporation from a buy rating to a hold rating in a research note on Friday, August 11th. Zacks Investment Research raised Kraton Corporation from a hold rating to a strong-buy rating and set a $42.00 target price for the company in a research report on Tuesday, August 1st. Finally, KeyCorp reaffirmed a hold rating on shares of Kraton Corporation in a research report on Friday, September 1st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Kraton Corporation has an average rating of Buy and an average target price of $57.33.
Kraton Corporation (NYSE KRA) opened at 40.44 on Thursday. The stock’s 50 day moving average price is $33.92 and its 200 day moving average price is $32.76. The firm has a market capitalization of $1.26 billion, a PE ratio of 29.03 and a beta of 1.25. Kraton Corporation has a 52-week low of $24.95 and a 52-week high of $40.75.
Kraton Corporation (NYSE:KRA) last posted its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.24. The business had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $506.58 million. Kraton Corporation had a net margin of 2.36% and a return on equity of 9.52%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, analysts predict that Kraton Corporation will post $2.31 EPS for the current fiscal year.
In other Kraton Corporation news, SVP James Leo Simmons sold 4,252 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.81, for a total transaction of $156,516.12. Following the completion of the sale, the senior vice president now owns 25,695 shares in the company, valued at approximately $945,832.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its holdings in shares of Kraton Corporation by 99.0% during the first quarter. US Bancorp DE now owns 3,806 shares of the specialty chemicals company’s stock valued at $118,000 after buying an additional 1,893 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Kraton Corporation by 279.4% during the first quarter. LS Investment Advisors LLC now owns 4,128 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 3,040 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Kraton Corporation by 80.4% during the second quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock worth $211,000 after acquiring an additional 2,742 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Kraton Corporation during the second quarter worth about $220,000. Finally, Mason Street Advisors LLC increased its position in shares of Kraton Corporation by 7.0% during the first quarter. Mason Street Advisors LLC now owns 7,229 shares of the specialty chemicals company’s stock worth $224,000 after acquiring an additional 473 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.
Kraton Corporation Company Profile
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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