Zacks Investment Research Upgrades SunCoke Energy (SXC) to “Buy”

Zacks Investment Research upgraded shares of SunCoke Energy (NYSE:SXC) from a hold rating to a buy rating in a research note published on Friday morning. The brokerage currently has $11.00 target price on the energy company’s stock.

According to Zacks, “SunCoke Energy, Inc is a producer of metallurgical coke in the Americas. The Company acquires, owns, and operates the coke making and coal mining operations. Its coke making facilities are in the United States and Brazil. “

Other research analysts have also issued research reports about the stock. Clarkson Capital raised shares of SunCoke Energy from a neutral rating to a buy rating in a research note on Friday. B. Riley reaffirmed a buy rating on shares of SunCoke Energy in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $11.00.

Shares of SunCoke Energy (SXC) traded up $0.41 during trading hours on Friday, reaching $9.84. 1,023,674 shares of the company’s stock were exchanged, compared to its average volume of 832,803. SunCoke Energy has a 12-month low of $7.66 and a 12-month high of $13.43. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 1.31. The company has a market cap of $660.79, a price-to-earnings ratio of 5.26 and a beta of 1.16.

SunCoke Energy (NYSE:SXC) last issued its earnings results on Wednesday, January 31st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $359.60 million during the quarter, compared to the consensus estimate of $353.60 million. SunCoke Energy had a net margin of 9.19% and a return on equity of 3.13%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. analysts expect that SunCoke Energy will post 0.12 EPS for the current year.

In other news, insider Phillip Michael Hardesty sold 4,444 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $11.37, for a total value of $50,528.28. Following the transaction, the insider now owns 70,161 shares of the company’s stock, valued at approximately $797,730.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.85% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new position in SunCoke Energy during the 3rd quarter worth approximately $124,000. Alambic Investment Management L.P. bought a new position in SunCoke Energy during the 4th quarter worth approximately $133,000. Quantbot Technologies LP bought a new position in SunCoke Energy during the 3rd quarter worth approximately $142,000. Piedmont Investment Advisors LLC bought a new position in SunCoke Energy during the 2nd quarter worth approximately $152,000. Finally, Crossmark Global Holdings Inc. bought a new position in SunCoke Energy during the 3rd quarter worth approximately $155,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.

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About SunCoke Energy

SunCoke Energy, Inc is a producer of coke in the Americas. The Company’s segments include Domestic Coke, Brazil Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell Coke Company, L.P. (Jewell), Indiana Harbor Coke Company (Indiana Harbor), Haverhill Coke Company LLC (Haverhill), Gateway Energy and Coke Company, LLC (Granite City) and Middletown Coke Company, LLC (Middletown) cokemaking and heat recovery operations.

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