PQ Group (NYSE:PQG) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of PQ Group (NYSE:PQG) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $18.00 price objective 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. “

NYSE:PQG opened at $15.90 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.09 and a current ratio of 2.17. PQ Group has a 12 month low of $13.28 and a 12 month high of $18.54. The company has a market cap of $2.12 billion, a P/E ratio of 18.61, a PEG ratio of 1.19 and a beta of 0.68. The stock has a 50 day moving average of $15.81.

PQ Group (NYSE:PQG) last posted its earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. PQ Group had a net margin of 3.83% and a return on equity of 6.82%. The business had revenue of $359.20 million during the quarter, compared to the consensus estimate of $367.89 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts predict that PQ Group will post 0.82 earnings per share for the current year.

In other PQ Group news, insider Ray Kolberg sold 12,077 shares of PQ Group stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $15.87, for a total value of $191,661.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Several institutional investors have recently modified their holdings of PQG. Shapiro Capital Management LLC boosted its stake in shares of PQ Group by 11.7% during the 4th quarter. Shapiro Capital Management LLC now owns 4,001,646 shares of the company’s stock worth $59,264,000 after acquiring an additional 417,954 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PQ Group by 65.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 656,680 shares of the company’s stock worth $9,726,000 after acquiring an additional 259,078 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of PQ Group during the 4th quarter worth $2,429,000. LGT Capital Partners LTD. boosted its stake in shares of PQ Group by 86.9% during the 1st quarter. LGT Capital Partners LTD. now owns 157,000 shares of the company’s stock worth $2,382,000 after acquiring an additional 73,000 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of PQ Group by 2.3% during the 4th quarter. BlackRock Inc. now owns 2,491,710 shares of the company’s stock worth $36,903,000 after acquiring an additional 55,150 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

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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