PQ Group (NYSE:PQG) Lowered to Neutral at Citigroup

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Citigroup cut shares of PQ Group (NYSE:PQG) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have $18.00 price objective on the stock, down from their prior price objective of $19.00.

A number of other brokerages also recently weighed in on PQG. TheStreet downgraded PQ Group from a b- rating to a c rating in a report on Thursday, October 24th. Zacks Investment Research upgraded PQ Group from a sell rating to a hold rating in a report on Tuesday, January 7th. Craig Hallum assumed coverage on PQ Group in a report on Wednesday, December 18th. They set a buy rating on the stock. Goldman Sachs Group downgraded PQ Group from a neutral rating to a sell rating in a report on Wednesday, November 27th. Finally, CL King assumed coverage on PQ Group in a report on Wednesday, December 18th. They set a buy rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.75.

Shares of NYSE PQG opened at $15.20 on Tuesday. PQ Group has a 52-week low of $13.18 and a 52-week high of $17.59. The company has a quick ratio of 1.26, a current ratio of 2.25 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.17 and a beta of 0.78. The stock’s fifty day simple moving average is $16.25 and its 200 day simple moving average is $15.74.

Hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in shares of PQ Group by 3.2% during the third quarter. State Street Corp now owns 741,240 shares of the company’s stock valued at $11,815,000 after buying an additional 22,871 shares in the last quarter. LGT Capital Partners LTD. boosted its position in PQ Group by 25.1% during the fourth quarter. LGT Capital Partners LTD. now owns 274,000 shares of the company’s stock valued at $4,707,000 after purchasing an additional 55,000 shares during the last quarter. California Public Employees Retirement System boosted its position in PQ Group by 14.7% during the third quarter. California Public Employees Retirement System now owns 98,818 shares of the company’s stock valued at $1,575,000 after purchasing an additional 12,661 shares during the last quarter. Rhumbline Advisers boosted its position in PQ Group by 9.3% during the third quarter. Rhumbline Advisers now owns 60,696 shares of the company’s stock valued at $967,000 after purchasing an additional 5,158 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in PQ Group by 1.2% during the third quarter. California State Teachers Retirement System now owns 59,030 shares of the company’s stock valued at $941,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 68.69% of the company’s stock.

About PQ Group

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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Analyst Recommendations for PQ Group (NYSE:PQG)

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