Barrington Research restated their buy rating on shares of Koppers (NYSE:KOP) in a research report released on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $35.00 price objective on the specialty chemicals company’s stock. Barrington Research also issued estimates for Koppers’ Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.62 EPS, FY2019 earnings at $3.30 EPS and FY2020 earnings at $3.99 EPS.
“We are reiterating our OUTPERFORM investment rating and price target of $35. Opinion OUTPERFORM Suitability/Risk (12 mo) $35 Target 26% LT EPS Growth Rate 18% Market Data Price $27.86 52‐Wk High $36.70 52‐Wk Low $15.00 Market Cap (mil) $576.2 Enterprise Value (mil) 1,667 Shares Outstanding (mil) 20.683 Insider Ownership 5% Institutional Ownership 97% Average Daily Volume 98,955 Financial / Equity (LTM) NM LT Debt/Capital 89.48% EV/EBITDA (LTM) 10.0x Price/Sales (LTM) 0.3x Price/Book NM Dividend $0.00 Dividend Yield 0.00% 634‐6343 FactSet Research Systems Revenue ($ mil)(est. in Adj. EPS ($)(est.”,” Barrington Research’s analyst wrote.
Several other analysts have also recently issued reports on KOP. ValuEngine cut Koppers from a sell rating to a strong sell rating in a report on Friday, July 12th. Monness Crespi & Hardt reaffirmed a buy rating and set a $37.00 price objective (up from $33.00) on shares of Koppers in a report on Friday, August 9th. Finally, Zacks Investment Research raised Koppers from a hold rating to a buy rating and set a $30.00 price objective on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Koppers currently has a consensus rating of Buy and a consensus price target of $36.80.
Koppers (NYSE:KOP) last issued its quarterly earnings data on Thursday, August 8th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.17. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $491.43 million. Koppers had a return on equity of 77.19% and a net margin of 1.76%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. On average, sell-side analysts expect that Koppers will post 3.36 earnings per share for the current year.
In related news, VP R. Michael Johnson purchased 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $28.92 per share, for a total transaction of $347,040.00. Following the acquisition, the vice president now owns 209,073 shares of the company’s stock, valued at approximately $6,046,391.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley A. Pearce sold 1,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $27.75, for a total value of $27,750.00. Following the sale, the insider now owns 16,477 shares in the company, valued at approximately $457,236.75. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. grew its position in Koppers by 244.6% in the 2nd quarter. Prudential Financial Inc. now owns 499,666 shares of the specialty chemicals company’s stock valued at $14,670,000 after acquiring an additional 354,654 shares during the last quarter. THB Asset Management bought a new position in Koppers in the 1st quarter valued at $8,084,000. Norges Bank bought a new position in Koppers in the 4th quarter valued at $5,090,000. Nuveen Asset Management LLC bought a new position in Koppers in the 2nd quarter valued at $5,521,000. Finally, Morgan Stanley grew its position in Koppers by 433.0% in the 2nd quarter. Morgan Stanley now owns 103,916 shares of the specialty chemicals company’s stock valued at $3,051,000 after acquiring an additional 84,420 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.
Koppers Holdings Inc, through its subsidiaries, provides treated wood products, wood treatment chemicals, and carbon compounds in the United States and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
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