Harsco (NYSE:HSC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Harsco (NYSE:HSC) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.

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. “

Several other research analysts have also weighed in on HSC. ValuEngine raised Harsco from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Lake Street Capital increased their price objective on Harsco from $33.00 to $36.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, TheStreet lowered Harsco from a b rating to a c+ rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Harsco has an average rating of Hold and an average price target of $30.33.

HSC stock traded up $0.12 during mid-day trading on Thursday, hitting $17.79. The stock had a trading volume of 11,468 shares, compared to its average volume of 789,262. The company has a current ratio of 1.47, a quick ratio of 1.22 and a debt-to-equity ratio of 3.85. Harsco has a 1-year low of $16.33 and a 1-year high of $29.18. The company has a fifty day moving average of $18.41 and a 200 day moving average of $22.41. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.53 and a beta of 2.24.

Harsco (NYSE:HSC) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.16). Harsco had a return on equity of 31.17% and a net margin of 6.43%. The firm had revenue of $350.90 million during the quarter, compared to analyst estimates of $478.30 million. During the same period in the previous year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Harsco will post 1.45 earnings per share for the current fiscal year.

In related news, CEO F Nicholas Grasberger III acquired 25,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $16.73 per share, with a total value of $418,250.00. Following the acquisition, the chief executive officer now owns 500,048 shares in the company, valued at approximately $8,365,803.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tracey L. Mckenzie acquired 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $18.99 per share, for a total transaction of $37,980.00. Following the acquisition, the senior vice president now owns 30,949 shares in the company, valued at approximately $587,721.51. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,600 shares of company stock worth $528,703. 1.64% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in HSC. Geode Capital Management LLC boosted its stake in Harsco by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 841,498 shares of the industrial products company’s stock valued at $16,712,000 after purchasing an additional 51,212 shares during the period. Marshall Wace LLP boosted its stake in Harsco by 139.9% during the 1st quarter. Marshall Wace LLP now owns 51,901 shares of the industrial products company’s stock valued at $1,046,000 after purchasing an additional 30,266 shares during the period. Marshall Wace North America L.P. boosted its stake in Harsco by 1,096.7% during the 1st quarter. Marshall Wace North America L.P. now owns 26,639 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 24,413 shares during the period. Nordea Investment Management AB boosted its stake in Harsco by 0.7% during the 1st quarter. Nordea Investment Management AB now owns 172,775 shares of the industrial products company’s stock valued at $3,484,000 after purchasing an additional 1,278 shares during the period. Finally, Copper Rock Capital Partners LLC boosted its stake in Harsco by 29.0% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 896,182 shares of the industrial products company’s stock valued at $24,591,000 after purchasing an additional 201,510 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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