Kraton Corporation (NYSE:KRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
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. “
KRA has been the topic of a number of other reports. Loop Capital assumed coverage on shares of Kraton Corporation in a research note on Thursday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. UBS AG upped their price target on shares of Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a research note on Wednesday, October 25th. BidaskClub cut shares of Kraton Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. TheStreet cut shares of Kraton Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Kraton Corporation in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.25.
Kraton Corporation (NYSE:KRA) opened at 48.47 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of 34.80 and a beta of 1.26. The stock’s 50 day moving average is $38.84 and its 200 day moving average is $35.00. Kraton Corporation has a one year low of $24.95 and a one year high of $48.74.
Kraton Corporation (NYSE:KRA) last announced its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.57. The company had revenue of $510.90 million for the quarter, compared to analysts’ expectations of $481.77 million. Kraton Corporation had a net margin of 1.27% and a return on equity of 14.19%. Kraton Corporation’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, analysts anticipate that Kraton Corporation will post $2.69 earnings per share for the current fiscal year.
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In related news, SVP James Leo Simmons sold 6,950 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.39, for a total transaction of $329,360.50. Following the sale, the senior vice president now owns 25,000 shares of the company’s stock, valued at approximately $1,184,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Holger R. Jung sold 21,202 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.64, for a total transaction of $840,447.28. Following the sale, the senior vice president now directly owns 48,819 shares in the company, valued at approximately $1,935,185.16. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. bought a new stake in Kraton Corporation during the 3rd quarter worth approximately $514,000. Strs Ohio increased its holdings in Kraton Corporation by 51.5% during the 3rd quarter. Strs Ohio now owns 25,900 shares of the specialty chemicals company’s stock worth $1,047,000 after acquiring an additional 8,800 shares during the period. LS Investment Advisors LLC increased its holdings in Kraton Corporation by 31.4% during the 3rd quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock worth $217,000 after acquiring an additional 1,282 shares during the period. Brookfield Asset Management Inc. increased its holdings in Kraton Corporation by 5.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 475,000 shares of the specialty chemicals company’s stock worth $16,359,000 after acquiring an additional 25,000 shares during the period. Finally, Proxima Capital Management LLC increased its holdings in Kraton Corporation by 7.7% during the 2nd quarter. Proxima Capital Management LLC now owns 290,700 shares of the specialty chemicals company’s stock worth $10,012,000 after acquiring an additional 20,700 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.
About Kraton Corporation
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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