Kraton Corp (NYSE:KRA) Sees Large Drop in Short Interest

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Kraton Corp (NYSE:KRA) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 615,500 shares, a drop of 5.0% from the April 30th total of 648,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 581,700 shares, the short-interest ratio is currently 1.1 days.

Shares of KRA opened at $14.34 on Friday. The business’s 50 day moving average is $11.15 and its 200 day moving average is $16.78. The company has a market capitalization of $442.78 million, a PE ratio of 6.02 and a beta of 3.17. Kraton has a 12-month low of $4.45 and a 12-month high of $35.00. The company has a current ratio of 1.76, a quick ratio of 0.89 and a debt-to-equity ratio of 0.94.

Kraton (NYSE:KRA) last issued its earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.23. The company had revenue of $427.27 million for the quarter, compared to the consensus estimate of $416.70 million. Kraton had a return on equity of 8.68% and a net margin of 13.90%. During the same quarter last year, the company earned $0.88 EPS. Equities research analysts predict that Kraton will post 0.17 earnings per share for the current year.

A number of research analysts have recently weighed in on KRA shares. Stifel Nicolaus lowered their price objective on Kraton from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Tuesday, March 24th. ValuEngine cut Kraton from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Loop Capital lifted their price objective on Kraton from $23.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, May 4th. UBS Group lifted their price objective on Kraton from $4.50 to $8.00 and gave the company a “sell” rating in a research report on Wednesday, May 6th. Finally, SunTrust Banks lifted their price objective on Kraton from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.67.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. raised its stake in Kraton by 84.6% during the 4th quarter. Citigroup Inc. now owns 46,590 shares of the specialty chemicals company’s stock valued at $1,180,000 after purchasing an additional 21,349 shares during the period. California Public Employees Retirement System increased its stake in Kraton by 20.7% in the 4th quarter. California Public Employees Retirement System now owns 68,165 shares of the specialty chemicals company’s stock worth $1,726,000 after acquiring an additional 11,711 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in Kraton in the 4th quarter worth approximately $1,008,000. AQR Capital Management LLC increased its stake in Kraton by 118.1% in the 4th quarter. AQR Capital Management LLC now owns 126,409 shares of the specialty chemicals company’s stock worth $3,201,000 after acquiring an additional 68,446 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in Kraton by 327.6% in the 4th quarter. Denali Advisors LLC now owns 44,900 shares of the specialty chemicals company’s stock worth $1,137,000 after acquiring an additional 34,400 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Kraton Company Profile

Kraton Corporation manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene and styrene-isoprene-styrene; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.

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