In a report released today, Christopher Howe from Barrington reiterated a Buy rating on Koppers Holdings Inc (NYSE: KOP), with a price target of $61. The company’s shares opened today at $35.15, close to its 52-week low of $33.65.
Howe noted:
“We expect profitability to improve over time as the company leverages its vertical integration advantage, improves its self‐sufficiency and realizes revenue synergies from its recent acquisitions. Excluding further acquisitions, the company plans to reduce pro‐forma net debt to approximately 3.5x by year‐ end (3.9x as of June 30) and sub 3.0x by the end of next year. We are reiterating our OUTPERFORM investment rating and price target of $61.”
According to TipRanks.com, Howe is a 1-star analyst with an average return of -3.0% and a 40.0% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as ASV Holdings Inc, Kadant Inc, and Woodward.
Koppers Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $52.67.
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The company has a one-year high of $51.80 and a one-year low of $33.65. Currently, Koppers Holdings Inc has an average volume of 126.3K.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KOP in relation to earlier this year.
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Koppers Holdings, Inc. operates as a holding company, which produces treated wood products, wood treatment chemicals and carbon compounds. It operates through the following segments: Carbon Materials & Chemicals; Railroad and Utility Products & Services; and Performance Chemicals.
