Zacks Investment Research upgraded shares of Koppers (NYSE:KOP) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The brokerage currently has $36.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Their products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber and construction industries. Including their joint ventures, the company serve their customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. “
Shares of NYSE:KOP opened at $31.46 on Wednesday. The company has a market capitalization of $671.36 million, a P/E ratio of 8.43 and a beta of 2.01. Koppers has a 1 year low of $27.91 and a 1 year high of $39.44. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.30 and a quick ratio of 1.20. The business’s 50 day simple moving average is $31.85 and its 200 day simple moving average is $31.89.
Several hedge funds have recently modified their holdings of KOP. US Bancorp DE boosted its holdings in shares of Koppers by 2,570.0% in the 2nd quarter. US Bancorp DE now owns 801 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 771 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Koppers in the 3rd quarter valued at $32,000. Moors & Cabot Inc. acquired a new stake in shares of Koppers in the 3rd quarter valued at $99,000. Macquarie Group Ltd. acquired a new stake in shares of Koppers in the 3rd quarter valued at $150,000. Finally, Howe & Rusling Inc. boosted its holdings in shares of Koppers by 12.5% in the 2nd quarter. Howe & Rusling Inc. now owns 5,207 shares of the specialty chemicals company’s stock valued at $168,000 after purchasing an additional 577 shares in the last quarter. 92.47% of the stock is currently owned by hedge funds and other institutional investors.
Koppers Holdings, Inc engages in the provision of treated wood products, wood treatment chemicals and carbon compounds. It operates through the following segments: Carbon Materials and Chemicals; Railroad and Utility Products and Services; and Performance Chemicals. The Carbon Materials and Chemicals segment manufactures carbon pitch naphthalene,creosote and carbon black feedstock.
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