Harsco (HSC) Receives Average Rating of “Buy” from Brokerages

Harsco (NYSE:HSC) has earned a consensus rating of “Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.20.

Several equities analysts recently commented on HSC shares. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, January 23rd. KeyCorp reaffirmed a “buy” rating and set a $25.00 price objective (up previously from $23.00) on shares of Harsco in a research note on Tuesday, February 27th. Lake Street Capital reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $26.00) on shares of Harsco in a research note on Friday, February 23rd. TheStreet raised shares of Harsco from a “c” rating to a “b-” rating in a research note on Thursday, May 3rd. Finally, ValuEngine raised shares of Harsco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd.

Shares of Harsco opened at $22.85 on Friday, Marketbeat.com reports. The company has a market cap of $1.80 billion, a P/E ratio of 30.88 and a beta of 2.65. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.16 and a current ratio of 1.50.

Harsco (NYSE:HSC) last issued its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $408.04 million during the quarter, compared to analysts’ expectations of $390.75 million. Harsco had a net margin of 1.02% and a return on equity of 32.22%. Harsco’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share. equities analysts forecast that Harsco will post 1.2 EPS for the current year.

Harsco declared that its board has approved a share buyback program on Wednesday, May 2nd that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Harsco news, SVP Scott H. Gerson sold 13,784 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $21.85, for a total value of $301,180.40. Following the completion of the transaction, the senior vice president now owns 56,497 shares of the company’s stock, valued at approximately $1,234,459.45. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.04% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HSC. Victory Capital Management Inc. grew its stake in Harsco by 3,860.6% in the 4th quarter. Victory Capital Management Inc. now owns 884,647 shares of the industrial products company’s stock worth $16,498,000 after buying an additional 862,311 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Harsco by 35.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,786,307 shares of the industrial products company’s stock worth $33,315,000 after acquiring an additional 468,117 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Harsco by 111.9% in the 4th quarter. Heartland Advisors Inc. now owns 443,720 shares of the industrial products company’s stock worth $8,275,000 after acquiring an additional 234,350 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Harsco by 1.8% in the 4th quarter. BlackRock Inc. now owns 10,490,112 shares of the industrial products company’s stock worth $195,642,000 after acquiring an additional 190,286 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Harsco by 83.3% in the 1st quarter. Wells Fargo & Company MN now owns 320,349 shares of the industrial products company’s stock worth $6,615,000 after acquiring an additional 145,537 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

Analyst Recommendations for Harsco (NYSE:HSC)

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