PQ Group (NYSE:PQG) Downgraded by Goldman Sachs Group to “Sell”

PQ Group (NYSE:PQG) was downgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. TheStreet cut PQ Group from a “b-” rating to a “c” rating in a research note on Thursday, October 24th. Zacks Investment Research cut PQ Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Nomura set a $19.00 price target on PQ Group and gave the company a “buy” rating in a research note on Monday, August 12th.

NYSE:PQG opened at $16.16 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.25 and a quick ratio of 1.26. PQ Group has a fifty-two week low of $13.18 and a fifty-two week high of $17.59. The stock’s 50-day moving average is $16.00 and its two-hundred day moving average is $15.58. The stock has a market cap of $2.21 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.24 and a beta of 0.76.

PQ Group (NYSE:PQG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The business had revenue of $423.80 million during the quarter, compared to analysts’ expectations of $425.54 million. PQ Group had a return on equity of 7.68% and a net margin of 5.56%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities research analysts anticipate that PQ Group will post 0.82 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PQG. First Trust Advisors LP lifted its holdings in shares of PQ Group by 47.2% during the third quarter. First Trust Advisors LP now owns 117,024 shares of the company’s stock worth $1,865,000 after buying an additional 37,545 shares during the last quarter. California Public Employees Retirement System grew its position in PQ Group by 14.7% in the third quarter. California Public Employees Retirement System now owns 98,818 shares of the company’s stock valued at $1,575,000 after acquiring an additional 12,661 shares during the period. Rhumbline Advisers grew its holdings in shares of PQ Group by 9.3% during the third quarter. Rhumbline Advisers now owns 60,696 shares of the company’s stock worth $967,000 after purchasing an additional 5,158 shares during the last quarter. LGT Capital Partners LTD. grew its holdings in shares of PQ Group by 17.1% during the third quarter. LGT Capital Partners LTD. now owns 219,000 shares of the company’s stock worth $3,491,000 after purchasing an additional 32,000 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of PQ Group during the second quarter worth $213,000. 68.65% of the stock is owned by institutional investors and hedge funds.

PQ Group Company Profile

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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