Zacks Investment Research Downgrades P H Glatfelter Co (GLT) to Sell

P H Glatfelter Co (NYSE:GLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Glatfelter is a paper manufacturing company that manufactures printing papers and tobacco and other specialty papers. The company sells its products throughout the United States and in a number of foreign countries. Most of the company’s printing paper products are directed at the uncoated free-sheet portion of the industry. The company’s tobacco and other specialty papers are used for cigarette manufacturing and other specialty uses such as the manufacture of playing cards, stamps, labels and surgical gowns. “

Several other research firms have also recently commented on GLT. ValuEngine upgraded P H Glatfelter from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. BidaskClub cut P H Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. P H Glatfelter currently has a consensus rating of “Hold” and an average target price of $21.25.

P H Glatfelter (NYSE:GLT) remained flat at $$20.77 during midday trading on Thursday. 154,275 shares of the company were exchanged, compared to its average volume of 140,252. The stock has a market cap of $905.28, a P/E ratio of 16.89, a PEG ratio of 3.68 and a beta of 1.39. The company has a current ratio of 1.70, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65. P H Glatfelter has a 12-month low of $16.53 and a 12-month high of $25.59.

P H Glatfelter (NYSE:GLT) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The firm had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $402.74 million. P H Glatfelter had a return on equity of 6.96% and a net margin of 2.92%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. sell-side analysts expect that P H Glatfelter will post 1.13 earnings per share for the current year.

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In related news, Director Nicholas Debenedictis acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the purchase, the director now directly owns 57,935 shares in the company, valued at approximately $1,020,814.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of P H Glatfelter by 73.5% during the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 2,376 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of P H Glatfelter by 63.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 2,246 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of P H Glatfelter by 10.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 638 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of P H Glatfelter by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 3,787 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of P H Glatfelter during the 1st quarter worth approximately $256,000. Institutional investors own 90.05% of the company’s stock.

P H Glatfelter Company Profile

P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.

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