Harsco Co. (HSC) Upgraded by Zacks Investment Research to Hold

Harsco Co. (NYSE:HSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

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. “

Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $15.00 price target (up previously from $13.00) on shares of Harsco in a report on Monday. KeyCorp upped their price target on shares of Harsco from $12.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $15.00.

Shares of Harsco (NYSE:HSC) traded down 0.40% on Monday, reaching $12.40. The company’s stock had a trading volume of 713,446 shares. The firm’s market cap is $994.26 million. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $12.15. Harsco has a 12 month low of $5.00 and a 12 month high of $15.25.

Harsco (NYSE:HSC) last released its quarterly earnings results on Friday, February 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $360 million for the quarter, compared to analysts’ expectations of $357.07 million. Harsco had a negative net margin of 5.21% and a positive return on equity of 11.33%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, analysts anticipate that Harsco will post $0.41 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Harsco by 1.4% in the third quarter. Capstone Asset Management Co. now owns 22,410 shares of the company’s stock worth $223,000 after buying an additional 320 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Harsco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,750 shares of the company’s stock worth $176,000 after buying an additional 320 shares in the last quarter. US Bancorp DE boosted its position in Harsco by 1.0% in the third quarter. US Bancorp DE now owns 35,125 shares of the company’s stock worth $349,000 after buying an additional 333 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its position in Harsco by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 64,913 shares of the company’s stock worth $644,000 after buying an additional 673 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Harsco by 1.5% in the second quarter. Royal Bank of Canada now owns 92,754 shares of the company’s stock worth $616,000 after buying an additional 1,415 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Harsco Company Profile

Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.

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