Heritage-Crystal Clean (HCCI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Heritage-Crystal Clean (NASDAQ:HCCI) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “HERITAGE-CRYSTAL CLEAN, LLC, headquartered in Elgin, Illinois, is a privately-held marketing and sales Company that concentrates on servicing the automotive repair, commercial and industrial marketplaces, primarily in the Midwest and Eastern States. “

Several other equities analysts have also recently commented on HCCI. Stifel Nicolaus reissued a buy rating and set a $23.00 target price on shares of Heritage-Crystal Clean in a research note on Thursday, October 19th. Robert W. Baird raised their target price on shares of Heritage-Crystal Clean from $20.00 to $22.00 and gave the company a neutral rating in a research note on Friday, October 20th. Roth Capital set a $24.00 target price on shares of Heritage-Crystal Clean and gave the company a buy rating in a research note on Friday, October 20th. Finally, BidaskClub raised shares of Heritage-Crystal Clean from a sell rating to a hold rating in a research note on Wednesday, December 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $23.50.

Shares of Heritage-Crystal Clean (NASDAQ HCCI) traded down $0.25 during trading hours on Wednesday, reaching $22.60. 285,959 shares of the company traded hands, compared to its average volume of 97,451. The company has a market cap of $522.80, a P/E ratio of 26.28, a PEG ratio of 1.68 and a beta of 1.96. Heritage-Crystal Clean has a 12-month low of $12.85 and a 12-month high of $25.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.02 and a current ratio of 2.51.

Heritage-Crystal Clean (NASDAQ:HCCI) last released its earnings results on Wednesday, October 18th. The industrial products company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). The company had revenue of $83.33 million for the quarter, compared to analyst estimates of $85.32 million. Heritage-Crystal Clean had a net margin of 5.56% and a return on equity of 6.76%. sell-side analysts anticipate that Heritage-Crystal Clean will post 0.63 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Heritage-Crystal Clean during the 3rd quarter valued at about $132,000. Nationwide Fund Advisors grew its stake in shares of Heritage-Crystal Clean by 10.0% in the 2nd quarter. Nationwide Fund Advisors now owns 8,497 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 770 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Heritage-Crystal Clean in the 3rd quarter worth approximately $225,000. The Manufacturers Life Insurance Company grew its stake in shares of Heritage-Crystal Clean by 18.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,315 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 2,214 shares during the last quarter. Finally, CMH Wealth Management LLC acquired a new position in shares of Heritage-Crystal Clean in the 4th quarter worth approximately $228,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

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Heritage-Crystal Clean Company Profile

Heritage-Crystal Clean, Inc provides full-service parts cleaning, containerized waste management, used oil collection, vacuum truck services and antifreeze recycling. The Company owns and operates a used oil re-refinery. The Company operates through two segments: Environmental Services and Oil Business.

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