Harsco (NYSE:HSC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Harsco (NYSE:HSCGet Rating) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Harsco Corporation is a provider of environmental solutions. The company serves industrial and specialty waste streams as well as equipment and technology for the rail sector. Its operating segment consist Harsco Environmental, Harsco Clean Earth and Harsco Rail they work towards transforming into a single-thesis environmental solution Company. Harsco Corporation is based in Camp Hill, United States. “

Several other research firms also recently issued reports on HSC. DA Davidson started coverage on Harsco in a report on Wednesday, March 30th. They issued a buy rating and a $18.00 price objective on the stock. StockNews.com started coverage on Harsco in a report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Barrington Research cut their price objective on Harsco from $22.00 to $20.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $21.25.

NYSE:HSC opened at $9.04 on Wednesday. Harsco has a 52 week low of $6.91 and a 52 week high of $23.73. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.34 and a current ratio of 1.45. The stock’s fifty day moving average is $11.93 and its two-hundred day moving average is $14.57.

Harsco (NYSE:HSCGet Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.05). Harsco had a negative net margin of 0.15% and a positive return on equity of 9.05%. The business had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $447.22 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Harsco’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Harsco will post 0.4 EPS for the current fiscal year.

In related news, CEO F Nicholas Grasberger III purchased 25,000 shares of the business’s stock in a transaction on Monday, February 28th. The shares were bought at an average price of $11.92 per share, for a total transaction of $298,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.91% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC acquired a new position in shares of Harsco during the 3rd quarter worth about $26,000. Public Employees Retirement System of Ohio boosted its position in shares of Harsco by 16.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,705 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 949 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Harsco during the 4th quarter worth about $172,000. Guggenheim Capital LLC acquired a new position in shares of Harsco during the 4th quarter worth about $173,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Harsco by 40.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,734 shares of the industrial products company’s stock worth $144,000 after acquiring an additional 3,386 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

Harsco Company Profile (Get Rating)

Harsco Corporation provides environmental solutions for industrial and specialty waste streams worldwide. It operates through two segments, Harsco Environmental and Harsco Clean Earth. The Harsco Environmental segment offers on-site services for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and produces value-added downstream products from industrial waste-stream.

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