In a report released today, Sarkis Sherbetchyan from B.Riley FBR initiated coverage with a Buy rating on Trecora Resources (TREC) and a price target of $14. The company’s shares opened today at $9.96.
Sherbetchyan observed:
“Buy-rated Trecora Resources (TREC, $14 PT) will report 4Q18 results after market close on Wednesday, 3/6, and will host its EPS call the following morning at 10:00am ET (dial-in: ID#: 1565589). We forecast revenues, adjusted $0.02, respectively, while the consensus calls for $76.6M, $6.9M, and $0.07, respectively. We expect 4Q results at least in line with our estimates. Remember, TREC completed over $100M in capital projects to increase its petrochemical and custom processing production capacity. The company’s new asset base could contribute an incremental $28M- $36M of EBITDA by 2022, or the doubling of EBITDA from current levels.”
According to TipRanks.com, Sherbetchyan is ranked #2393 out of 5233 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for Trecora Resources.
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Based on Trecora Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.61 million. In comparison, last year the company had a net profit of $13.97 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.
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Trecora Resources engages in the manufacture and sale of petrochemical products and synthetic waxes; and provision of custom processing services. It operates through the Petrochemical and Specialty Wax segments.
