Kraton Corporation (NYSE:KRA)‘s stock had its “buy” rating reiterated by research analysts at SunTrust Banks, Inc. in a research report issued on Wednesday. They presently have a $55.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $45.00. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 33.82% from the stock’s previous close. SunTrust Banks also issued estimates for Kraton Corporation’s Q3 2017 earnings at $1.04 EPS, Q4 2017 earnings at $0.89 EPS and FY2017 earnings at $2.60 EPS. The analysts noted that the move was a valuation call.
A number of other research firms also recently commented on KRA. Zacks Investment Research upgraded Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Tuesday, August 1st. BidaskClub upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG assumed coverage on Kraton Corporation in a research report on Friday, September 29th. They set a “buy” rating and a $65.00 target price for the company. Loop Capital assumed coverage on Kraton Corporation in a research report on Thursday, September 28th. They set a “buy” rating and a $65.00 target price for the company. Finally, KeyCorp reiterated a “hold” rating on shares of Kraton Corporation in a research report on Friday, September 1st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Kraton Corporation currently has a consensus rating of “Buy” and a consensus target price of $56.75.
Kraton Corporation (NYSE:KRA) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.24. The firm had revenue of $525.30 million during the quarter, compared to the consensus estimate of $506.58 million. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS.
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In other Kraton Corporation news, SVP Holger R. Jung sold 21,202 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $39.64, for a total value of $840,447.28. Following the sale, the senior vice president now owns 48,819 shares in the company, valued at $1,935,185.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James Leo Simmons sold 4,252 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $36.81, for a total value of $156,516.12. Following the completion of the sale, the senior vice president now owns 25,695 shares in the company, valued at approximately $945,832.95. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KRA. US Bancorp DE increased its stake in Kraton Corporation by 99.0% in the first quarter. US Bancorp DE now owns 3,806 shares of the specialty chemicals company’s stock worth $118,000 after purchasing an additional 1,893 shares during the period. State of Alaska Department of Revenue increased its stake in Kraton Corporation by 80.4% in the second quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock worth $211,000 after purchasing an additional 2,742 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Kraton Corporation in the second quarter worth $220,000. Mason Street Advisors LLC increased its stake in Kraton Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,229 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 473 shares during the period. Finally, Aperio Group LLC purchased a new stake in Kraton Corporation in the second quarter worth $226,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
About Kraton Corporation
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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