Heritage-Crystal Clean (NASDAQ:HCCI) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Heritage-Crystal Clean (NASDAQ:HCCI) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “HERITAGE-CRYSTAL CLEAN, LLC, headquartered in Elgin, Illinois, is a privately-held marketing and sales Company that concentrates on servicing the automotive repair, commercial and industrial marketplaces, primarily in the Midwest and Eastern States. “

Several other research firms have also recently commented on HCCI. Stifel Nicolaus lowered their target price on shares of Heritage-Crystal Clean from $21.00 to $17.00 and set a hold rating on the stock in a research note on Friday, July 24th. Roth Capital reduced their target price on shares of Heritage-Crystal Clean from $32.00 to $23.00 and set a buy rating for the company in a research note on Thursday, April 30th. Barrington Research assumed coverage on shares of Heritage-Crystal Clean in a research note on Wednesday, July 15th. They issued a buy rating and a $22.00 target price for the company. BidaskClub cut shares of Heritage-Crystal Clean from a sell rating to a strong sell rating in a research note on Thursday, June 4th. Finally, Needham & Company LLC reduced their target price on shares of Heritage-Crystal Clean from $20.00 to $19.00 and set a buy rating for the company in a research note on Friday, July 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $22.17.

Heritage-Crystal Clean stock opened at $13.93 on Wednesday. The stock has a market cap of $324.01 million, a price-to-earnings ratio of 49.75 and a beta of 1.64. The company has a current ratio of 1.72, a quick ratio of 1.38 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $16.15 and its two-hundred day moving average price is $19.95. Heritage-Crystal Clean has a 52 week low of $11.30 and a 52 week high of $32.58.

Heritage-Crystal Clean (NASDAQ:HCCI) last released its earnings results on Wednesday, July 22nd. The industrial products company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). The company had revenue of $79.52 million for the quarter, compared to analyst estimates of $69.48 million. Heritage-Crystal Clean had a net margin of 1.50% and a return on equity of 4.25%. Research analysts expect that Heritage-Crystal Clean will post -0.19 earnings per share for the current fiscal year.

In related news, CEO Brian Recatto acquired 3,500 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $13.95 per share, with a total value of $48,825.00. Following the acquisition, the chief executive officer now owns 514,009 shares in the company, valued at approximately $7,170,425.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can acquired a new stake in shares of Heritage-Crystal Clean during the fourth quarter valued at about $31,000. BNP Paribas Arbitrage SA increased its holdings in shares of Heritage-Crystal Clean by 76.9% during the first quarter. BNP Paribas Arbitrage SA now owns 4,687 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 2,037 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Heritage-Crystal Clean during the second quarter valued at approximately $144,000. IndexIQ Advisors LLC bought a new stake in shares of Heritage-Crystal Clean during the first quarter valued at approximately $182,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Heritage-Crystal Clean by 28.6% during the first quarter. Alliancebernstein L.P. now owns 12,600 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 2,800 shares in the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.

About Heritage-Crystal Clean

Heritage-Crystal Clean, Inc, through its subsidiary, Heritage-Crystal Clean, LLC, provides parts cleaning, and hazardous and non-hazardous containerized waste services to small and mid-sized customers in the vehicle maintenance and manufacturing services industries in North America. It operates in two segments, Environmental Services and Oil Business.

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