PQ Group (NYSE:PQG) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks.com reports.
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 equities research analysts also recently issued reports on the company. TheStreet upgraded PQ Group from a "d+" rating to a "c-" rating in a research report on Tuesday, November 24th. Morgan Stanley increased their price objective on PQ Group from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, December 14th. Finally, KeyCorp started coverage on PQ Group in a research report on Monday, December 14th. They issued an "overweight" rating and a $19.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of "Buy" and a consensus target price of $16.79.
Shares of NYSE PQG opened at $16.21 on Tuesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 50.66 and a beta of 0.90. The stock has a fifty day simple moving average of $15.17 and a two-hundred day simple moving average of $13.04. PQ Group has a 1-year low of $8.50 and a 1-year high of $16.28. The company has a current ratio of 2.76, a quick ratio of 1.70 and a debt-to-equity ratio of 1.06.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PQ Group by 64.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,609 shares of the company's stock valued at $68,000 after acquiring an additional 2,585 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC bought a new position in PQ Group in the third quarter valued at $109,000. Trexquant Investment LP bought a new position in PQ Group in the third quarter valued at $111,000. Edge Capital Group LLC bought a new position in PQ Group in the third quarter valued at $111,000. Finally, Paloma Partners Management Co bought a new position in PQ Group in the third quarter valued at $112,000. 69.40% of the stock is currently owned by institutional investors and hedge funds.
About PQ Group
PQ Group Holdings Inc provides specialty catalysts, materials, chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through four segments: Refining Services, Catalysts, Performance Materials, and Performance Chemicals. The Refining Services segment offers sulfuric acid recycling and end-to-end logistics services to produce alkylate; and virgin sulfuric acid for water treatment, mining, and industrial applications.
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