Zacks Investment Research upgraded shares of Koppers (NYSE:KOP) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $47.00 target price on the specialty chemicals company’s stock.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
KOP has been the subject of a number of other research reports. B. Riley set a $60.00 price objective on Koppers and gave the stock a buy rating in a report on Wednesday, February 28th. TheStreet cut Koppers from a b- rating to a c rating in a research note on Tuesday, February 27th. Finally, ValuEngine downgraded Koppers from a buy rating to a hold rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $48.33.
Koppers (NYSE:KOP) last posted its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Koppers had a return on equity of 94.85% and a net margin of 1.97%. The business had revenue of $366.10 million for the quarter, compared to the consensus estimate of $308.05 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. research analysts expect that Koppers will post 4.03 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of KOP. Acadian Asset Management LLC purchased a new stake in Koppers in the 4th quarter valued at about $141,000. LS Investment Advisors LLC increased its stake in Koppers by 314.0% in the 4th quarter. LS Investment Advisors LLC now owns 2,902 shares of the specialty chemicals company’s stock worth $148,000 after buying an additional 2,201 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Koppers in the 3rd quarter valued at about $166,000. Victory Capital Management Inc. bought a new stake in shares of Koppers in the 3rd quarter valued at about $195,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Koppers during the 3rd quarter valued at approximately $209,000. 89.80% of the stock is currently owned by institutional investors and hedge funds.
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Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
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