PQ Group (PQG) Downgraded by Zacks Investment Research to “Sell”

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PQ Group (NYSE:PQG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “PQ Group Holdings Inc. is an integrated, provider of catalysts, specialty materials and chemicals and services. It operates primarily in North America, Europe, South America and Asia. The company serves refinery, emissions control and petrochemical industries. PQ Group Holdings Inc. is based in MALVERN, United States. “

Several other research firms have also recently issued reports on PQG. BMO Capital Markets increased their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Nomura increased their target price on shares of PQ Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Credit Suisse Group increased their target price on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. JPMorgan Chase & Co. cut shares of PQ Group from an “overweight” rating to a “neutral” rating in a research note on Friday, August 10th. Finally, Citigroup increased their target price on shares of PQ Group from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. PQ Group has a consensus rating of “Buy” and a consensus target price of $20.23.

PQG opened at $15.71 on Thursday. The company has a market capitalization of $2.36 billion and a P/E ratio of 34.15. PQ Group has a 12 month low of $12.88 and a 12 month high of $18.69. The company has a quick ratio of 1.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.34.

PQ Group (NYSE:PQG) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. PQ Group had a net margin of 5.00% and a return on equity of 5.97%. The company had revenue of $434.70 million during the quarter, compared to the consensus estimate of $420.44 million. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts expect that PQ Group will post 0.86 earnings per share for the current year.

In other PQ Group news, insider Paul Ferrall sold 53,323 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $17.87, for a total value of $952,882.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 86,959 shares of company stock worth $1,553,715 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of PQ Group by 39.2% during the 2nd quarter. Northern Trust Corp now owns 428,051 shares of the company’s stock valued at $7,705,000 after buying an additional 120,474 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of PQ Group by 43.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 141,687 shares of the company’s stock valued at $2,550,000 after buying an additional 42,839 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PQ Group during the 2nd quarter valued at $329,000. Voya Investment Management LLC purchased a new stake in shares of PQ Group during the 2nd quarter valued at $197,000. Finally, Laurion Capital Management LP purchased a new stake in shares of PQ Group during the 2nd quarter valued at $2,684,000. Hedge funds and other institutional investors own 69.22% of the company’s stock.

PQ Group Company Profile

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.

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