Koppers Holdings (KOP) is Downgraded by Monness Crespi & Hardt to Neutral

Koppers Holdings (KOP) was Downgraded by Monness Crespi & Hardt to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Monness Crespi & Hardt advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Koppers Holdings. Company shares were Reiterated by Wunderlich on Jun 30, 2016 to “Buy”, Firm has raised the Price Target to $ 39 from a previous price target of $32 .Koppers Holdings was Initiated by Barrington Research to “Outperform” on Jun 8, 2016. Company shares were Reiterated by Monness Crespi & Hardt on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $27 .

On the company’s financial health, Koppers Holdings reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on May 6, 2016. Analyst had a consensus of $0.07. The company had revenue of $346.80 million for the quarter, compared to analysts expectations of $364.50 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Koppers Holdings closed down -0.49 points or -1.48% at $32.53 with 85,252 shares getting traded on Friday. Post opening the session at $33.21, the shares hit an intraday low of $32.44 and an intraday high of $33.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 1, 2016, Stephen C Reeder (SVP, Performance Chemicals) purchased 475 shares at $25.19 per share price. According to the SEC, on May 26, 2016, Markus G Spiess (VP, Global Sales and Marketing) sold 4,551 shares at $25.16 per share price. On May 24, 2016, Louis L Testoni (director) purchased 4,100 shares at $24.68 per share price, according to the Form-4 filing with the securities and exchange commission.

Koppers Holdings Inc. (Koppers) is an integrated global provider of carbon compounds chemicals and treated wood products and services. Koppers’ products and services are used in various end-markets including the aluminum railroad specialty chemical utility rubber concrete steel residential lumber and agricultural industries. Koppers operates through three segments: Carbon Materials and Chemicals (CMC) Railroad and Utility Products and Services (RUPS) and Performance Chemicals (PC). The CMC segment is primarily a manufacturer of carbon pitch naphthalene phthalic anhydride creosote and carbon black feedstock. The RUPS segment sells treated and untreated wood products manufactured products and services primarily to the railroad and public utility markets. The PC segment sells preservatives for residential and agricultural treated lumber that includes decking and fencing. Koppers has manufacturing facilities in North America South America Australasia China and Europe.

Koppers Holdings

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