Zacks Investment Research upgraded shares of PQ Group (NYSE:PQG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $15.00 target price on the stock.
According to Zacks, “PQ Group Holdings Inc. is an integrated, provider of catalysts, specialty materials and chemicals and services. It operates primarily in North America, Europe, South America and Asia. The company serves refinery, emissions control and petrochemical industries. PQ Group Holdings Inc. is based in MALVERN, United States. “
Several other research analysts have also recently issued reports on PQG. Citigroup increased their price objective on PQ Group from $10.30 to $11.50 and gave the stock a neutral rating in a research note on Thursday, April 9th. BMO Capital Markets dropped their price objective on PQ Group from $23.00 to $19.00 and set an outperform rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. PQ Group presently has an average rating of Buy and a consensus price target of $16.92.
PQG opened at $12.27 on Wednesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 26.67 and a beta of 0.96. The stock’s 50 day moving average price is $13.16 and its 200-day moving average price is $12.80. PQ Group has a one year low of $8.50 and a one year high of $17.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.40 and a current ratio of 2.48.
PQ Group (NYSE:PQG) last released its earnings results on Thursday, July 30th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). PQ Group had a net margin of 4.13% and a return on equity of 6.73%. The business had revenue of $359.50 million for the quarter, compared to the consensus estimate of $354.56 million. As a group, analysts predict that PQ Group will post 0.71 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of PQG. Raymond James Financial Services Advisors Inc. purchased a new stake in PQ Group during the second quarter worth $3,782,000. LGT Capital Partners LTD. lifted its holdings in PQ Group by 53.5% during the second quarter. LGT Capital Partners LTD. now owns 580,000 shares of the company’s stock worth $7,679,000 after buying an additional 202,214 shares during the period. Bank of New York Mellon Corp lifted its holdings in PQ Group by 59.4% during the fourth quarter. Bank of New York Mellon Corp now owns 232,862 shares of the company’s stock worth $4,000,000 after buying an additional 86,748 shares during the period. Goldman Sachs Group Inc. lifted its holdings in PQ Group by 471.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 91,282 shares of the company’s stock worth $1,568,000 after buying an additional 75,313 shares during the period. Finally, Bank of America Corp DE lifted its holdings in PQ Group by 84.7% during the fourth quarter. Bank of America Corp DE now owns 120,760 shares of the company’s stock worth $2,075,000 after buying an additional 55,370 shares during the period. Institutional investors own 68.57% of the company’s stock.
PQ Group Company Profile
PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Environmental Catalysts and Services; and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels and emission controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.
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