Zacks Investment Research lowered shares of Koppers (NYSE:KOP) from a strong-buy rating to a sell rating in a research report report published on Wednesday morning.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
KOP has been the subject of a number of other reports. B. Riley reissued a buy rating and set a $65.00 target price on shares of Koppers in a research note on Tuesday, December 19th. Jefferies Group reissued a hold rating and set a $40.00 target price on shares of Koppers in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $50.17.
Koppers (NYSE:KOP) last issued its earnings results on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.55. The business had revenue of $384.80 million during the quarter, compared to the consensus estimate of $363.00 million. Koppers had a return on equity of 119.06% and a net margin of 3.54%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. research analysts anticipate that Koppers will post 3.73 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in shares of Koppers by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 33,677 shares of the specialty chemicals company’s stock worth $1,217,000 after acquiring an additional 274 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Koppers by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,050 shares of the specialty chemicals company’s stock worth $580,000 after acquiring an additional 474 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of Koppers by 8.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,700 shares of the specialty chemicals company’s stock worth $278,000 after acquiring an additional 600 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Koppers by 9.4% in the 2nd quarter. Federated Investors Inc. PA now owns 12,573 shares of the specialty chemicals company’s stock worth $455,000 after acquiring an additional 1,076 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Koppers by 12.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,344 shares of the specialty chemicals company’s stock worth $410,000 after acquiring an additional 1,259 shares during the period. Institutional investors and hedge funds own 89.26% of the company’s stock.
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Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
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