Zacks Investment Research upgraded shares of Harsco Corp. (NYSE:HSC) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $12.00 price objective on the stock.
According to Zacks, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules. “
HSC has been the topic of several other reports. Lake Street Capital assumed coverage on Harsco Corp. in a research report on Tuesday, September 13th. They issued a buy rating and a $17.00 target price on the stock. Jefferies Group upped their target price on Harsco Corp. from $10.00 to $12.00 and gave the company a buy rating in a research report on Monday.
Harsco Corp. (NYSE:HSC) traded down 3.56% during midday trading on Wednesday, reaching $10.03. The company’s stock had a trading volume of 146,206 shares. The stock’s market cap is $804.15 million. Harsco Corp. has a one year low of $3.55 and a one year high of $12.54. The stock’s 50 day moving average price is $9.74 and its 200-day moving average price is $7.92.
Harsco Corp. (NYSE:HSC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $370 million for the quarter, compared to the consensus estimate of $377.30 million. Harsco Corp. had a positive return on equity of 12.38% and a negative net margin of 3.42%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, analysts forecast that Harsco Corp. will post $0.39 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. raised its stake in Harsco Corp. by 221.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 252,930 shares of the company’s stock valued at $1,378,000 after buying an additional 174,230 shares during the last quarter. Ngam Advisors L.P. raised its stake in Harsco Corp. by 23.8% in the first quarter. Ngam Advisors L.P. now owns 40,372 shares of the company’s stock valued at $220,000 after buying an additional 7,765 shares during the last quarter. Prudential Financial Inc. raised its stake in Harsco Corp. by 15.1% in the first quarter. Prudential Financial Inc. now owns 423,552 shares of the company’s stock valued at $2,308,000 after buying an additional 55,700 shares during the last quarter. BlackRock Fund Advisors raised its stake in Harsco Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 5,042,950 shares of the company’s stock valued at $27,484,000 after buying an additional 18,202 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Harsco Corp. by 13,955,200.0% in the first quarter. JPMorgan Chase & Co. now owns 558,212 shares of the company’s stock valued at $3,042,000 after buying an additional 558,208 shares during the last quarter. 80.64% of the stock is currently owned by institutional investors.
About Harsco Corp.
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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