Zacks Investment Research upgraded shares of PQ Group (NYSE:PQG) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $15.00 price target 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. “
Other research analysts have also issued reports about the stock. Citigroup raised their target price on shares of 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 decreased their target price on shares of 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 given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $16.92.
PQG stock opened at $12.27 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 1.15. PQ Group has a 12-month low of $8.50 and a 12-month high of $17.26. 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 business’s 50-day moving average is $13.16 and its 200 day moving average is $12.80.
PQ Group (NYSE:PQG) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). PQ Group had a return on equity of 6.73% and a net margin of 4.13%. The firm had revenue of $359.50 million during the quarter, compared to analyst estimates of $354.56 million. As a group, equities analysts forecast that PQ Group will post 0.71 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can purchased a new stake in shares of PQ Group during the 4th quarter valued at approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PQ Group by 74.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,024 shares of the company’s stock valued at $44,000 after buying an additional 1,716 shares during the period. Denali Advisors LLC purchased a new stake in shares of PQ Group during the 2nd quarter valued at approximately $101,000. Nisa Investment Advisors LLC purchased a new stake in shares of PQ Group during the 1st quarter valued at approximately $90,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of PQ Group by 18.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,538 shares of the company’s stock valued at $137,000 after buying an additional 1,952 shares during the period. 68.57% of the stock is currently owned by hedge funds and other institutional investors.
About PQ Group
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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