Koppers (NYSE:KOP) Receives "Buy" Rating from B. Riley

Key Points

• Analysts at B. Riley have reduced Koppers' price target from $55.00 to $50.00, while maintaining a "buy" rating, indicating a potential upside of 73.31% from the stock's previous close.
• Koppers' shares have declined by 13.3%, opening at $28.85 on Monday, following underwhelming quarterly results that showed a 10.4% year-over-year revenue decline.
• Several hedge funds have recently increased their holdings in Koppers, with institutional investors now owning 92.75% of the company's stock.

Koppers (NYSE:KOP - Get Free Report)'s stock had its "buy" rating reaffirmed by B. Riley in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $50.00 price objective on the specialty chemicals company's stock, down from their previous price objective of $55.00. B. Riley's price target would indicate a potential upside of 80.64% from the stock's current price.

Separately, Barrington Research dropped their price objective on Koppers from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday.

Koppers Price Performance

Shares of KOP stock traded down $1.16 during trading hours on Monday, hitting $27.68. 110,864 shares of the company's stock were exchanged, compared to its average volume of 151,154. The stock's 50-day moving average is $32.61 and its 200-day moving average is $29.89. The stock has a market cap of $553.88 million, a price-to-earnings ratio of 38.44 and a beta of 1.40. Koppers has a 52 week low of $22.99 and a 52 week high of $40.07. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.60 and a quick ratio of 1.11.

Koppers (NYSE:KOP - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The specialty chemicals company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). Koppers had a return on equity of 17.43% and a net margin of 0.76%. The business had revenue of $504.80 million for the quarter, compared to analyst estimates of $540.30 million. During the same period last year, the firm posted $1.36 EPS. Koppers's quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts forecast that Koppers will post 4.24 EPS for the current year.

Hedge Funds Weigh In On Koppers

Large investors have recently made changes to their positions in the business. Byrne Asset Management LLC acquired a new stake in shares of Koppers during the 1st quarter worth approximately $38,000. Quarry LP acquired a new position in Koppers in the fourth quarter valued at $40,000. Copeland Capital Management LLC acquired a new position in Koppers in the first quarter valued at $49,000. GAMMA Investing LLC boosted its holdings in shares of Koppers by 112.9% in the first quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 973 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Koppers by 97,600.0% during the first quarter. AlphaQuest LLC now owns 1,954 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,952 shares in the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.

Koppers Company Profile

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.