Mercer International (NASDAQ:MERC) Downgraded by StockNews.com to Sell

Mercer International (NASDAQ:MERC) (TSE:MRI.U) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Several other brokerages also recently commented on MERC. CIBC lowered their price objective on Mercer International from $10.00 to $8.50 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada lowered their price objective on Mercer International from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.38.

Mercer International Stock Up 5.1 %

NASDAQ:MERC traded up $0.33 on Friday, hitting $6.74. The stock had a trading volume of 621,541 shares, compared to its average volume of 280,911. The business’s fifty day moving average is $6.91 and its 200 day moving average is $8.64. The company has a market cap of $450.70 million, a PE ratio of -1.97 and a beta of 1.34. The company has a quick ratio of 2.17, a current ratio of 3.46 and a debt-to-equity ratio of 3.22. Mercer International has a 52 week low of $5.33 and a 52 week high of $11.20.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.08). The firm had revenue of $499.40 million during the quarter, compared to the consensus estimate of $482.35 million. Mercer International had a negative return on equity of 17.93% and a negative net margin of 9.90%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.48) EPS. On average, equities research analysts expect that Mercer International will post -1.15 EPS for the current fiscal year.

Insider Activity at Mercer International

In other Mercer International news, Director Rainer Rettig purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $6.24 per share, with a total value of $31,200.00. Following the completion of the transaction, the director now owns 42,463 shares of the company’s stock, valued at approximately $264,969.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Rainer Rettig acquired 5,000 shares of Mercer International stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $6.24 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now owns 42,463 shares in the company, valued at $264,969.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard George Short acquired 6,000 shares of Mercer International stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $5.70 per share, with a total value of $34,200.00. Following the completion of the acquisition, the chief financial officer now owns 51,382 shares of the company’s stock, valued at approximately $292,877.40. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 33,500 shares of company stock valued at $201,170. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Mercer International

A number of large investors have recently made changes to their positions in MERC. SG Americas Securities LLC boosted its holdings in shares of Mercer International by 26.5% in the first quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company’s stock worth $509,000 after acquiring an additional 10,713 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Mercer International in the first quarter worth $193,000. Finally, Everence Capital Management Inc. bought a new position in shares of Mercer International in the first quarter worth $261,000. 85.79% of the stock is owned by institutional investors.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.