“We expect profitability to improve over time as the company leverages its vertical integration advantage, improves its self‐sufficiency and realizes revenue synergies from its recent acquisitions. Excluding further acquisitions, the company plans to reduce pro‐forma net debt to approximately 3.5x by year‐ end (3.9x as of June 30) and sub 3.0x by the end of next year. We are reiterating our OUTPERFORM investment rating and price target of $61.”,” the firm’s analyst commented.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Koppers from a strong-buy rating to a hold rating in a report on Wednesday, May 9th. ValuEngine downgraded shares of Koppers from a sell rating to a strong sell rating in a report on Friday, August 3rd. B. Riley set a $60.00 price objective on shares of Koppers and gave the company a buy rating in a report on Friday, August 10th. Finally, TheStreet downgraded shares of Koppers from a b- rating to a c rating in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $50.00.
NYSE KOP opened at $35.05 on Wednesday. The stock has a market cap of $750.73 million, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.48 and a beta of 0.84. Koppers has a 52 week low of $33.65 and a 52 week high of $51.80. The company has a current ratio of 2.03, a quick ratio of 1.05 and a debt-to-equity ratio of 9.65.
Koppers (NYSE:KOP) last released its quarterly earnings data on Thursday, August 9th. The specialty chemicals company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.18). The business had revenue of $436.00 million for the quarter, compared to analysts’ expectations of $490.60 million. Koppers had a net margin of 1.47% and a return on equity of 79.35%. Koppers’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. analysts anticipate that Koppers will post 4.1 earnings per share for the current fiscal year.
In other news, Director Albert J. Neupaver purchased 5,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average cost of $35.88 per share, with a total value of $179,400.00. Following the completion of the acquisition, the director now owns 45,316 shares in the company, valued at approximately $1,625,938.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP R. Michael Johnson purchased 25,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average cost of $35.36 per share, for a total transaction of $884,000.00. Following the completion of the acquisition, the vice president now owns 46,534 shares of the company’s stock, valued at approximately $1,645,442.24. The disclosure for this purchase can be found here. Over the last three months, insiders bought 31,000 shares of company stock worth $1,099,130 and sold 24,074 shares worth $1,025,325. Corporate insiders own 8.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. purchased a new stake in shares of Koppers in the second quarter worth about $301,000. California Public Employees Retirement System lifted its holdings in shares of Koppers by 13.8% in the second quarter. California Public Employees Retirement System now owns 34,913 shares of the specialty chemicals company’s stock worth $1,339,000 after buying an additional 4,221 shares in the last quarter. Zebra Capital Management LLC lifted its holdings in shares of Koppers by 34.6% in the second quarter. Zebra Capital Management LLC now owns 22,032 shares of the specialty chemicals company’s stock worth $845,000 after buying an additional 5,658 shares in the last quarter. Paloma Partners Management Co lifted its holdings in shares of Koppers by 84.1% in the second quarter. Paloma Partners Management Co now owns 9,004 shares of the specialty chemicals company’s stock worth $346,000 after buying an additional 4,113 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Koppers by 6.3% in the second quarter. Bank of America Corp DE now owns 141,240 shares of the specialty chemicals company’s stock worth $5,417,000 after buying an additional 8,426 shares in the last quarter. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
Koppers Company Profile
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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