Kraton (NYSE:KRA) Cut to Hold at Zacks Investment Research


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Zacks Investment Research downgraded shares of Kraton (NYSE:KRA) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas. “

Several other brokerages have also recently issued reports on KRA. TheStreet cut shares of Kraton from a c rating to a d+ rating in a research note on Wednesday, October 28th. Loop Capital boosted their price objective on shares of Kraton from $29.00 to $45.00 in a report on Friday, October 16th. BidaskClub upgraded shares of Kraton from a hold rating to a buy rating in a report on Thursday, January 7th. Truist upped their target price on shares of Kraton from $20.00 to $25.00 in a research note on Tuesday, October 6th. Finally, ValuEngine downgraded shares of Kraton from a buy rating to a hold rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $23.00.

Shares of NYSE:KRA opened at $34.81 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.64 and a debt-to-equity ratio of 1.30. The company has a market cap of $1.11 billion, a P/E ratio of -4.89 and a beta of 2.41. Kraton has a 52 week low of $4.45 and a 52 week high of $36.19. The company has a 50-day moving average price of $28.89 and a 200 day moving average price of $22.18.

Kraton (NYSE:KRA) last posted its quarterly earnings results on Wednesday, October 28th. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.66. Kraton had a negative net margin of 14.37% and a positive return on equity of 3.40%. The company had revenue of $373.44 million during the quarter, compared to the consensus estimate of $362.10 million. Analysts expect that Kraton will post 1.13 EPS for the current year.

In other Kraton news, CAO Chris H. Russell sold 1,532 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $29.03, for a total value of $44,473.96. Following the completion of the transaction, the chief accounting officer now owns 11,655 shares in the company, valued at approximately $338,344.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its position in Kraton by 31.2% in the 3rd quarter. Sei Investments Co. now owns 354,157 shares of the specialty chemicals company’s stock worth $6,311,000 after purchasing an additional 84,221 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kraton in the 3rd quarter worth approximately $434,000. Public Employees Retirement System of Ohio lifted its stake in shares of Kraton by 16.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,628 shares of the specialty chemicals company’s stock worth $617,000 after acquiring an additional 4,876 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Kraton in the 3rd quarter worth approximately $443,000. Finally, State of Tennessee Treasury Department lifted its stake in shares of Kraton by 17.8% in the 3rd quarter. State of Tennessee Treasury Department now owns 24,469 shares of the specialty chemicals company’s stock worth $436,000 after acquiring an additional 3,695 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

About Kraton

Kraton Corporation manufactures and sells styrenic block copolymers, specialty polymers, and other products 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 for paving and roofing application; styrene-isoprene-styrene for personal care application; ethylene-vinyl acetate, polyolefins, and metallocene polyolefins for adhesives application; 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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