Today’s Market Runner: Could Harsco Corporation See a Reversal After Breaking Its 52-Week High?

Today's Market Runner: Could Harsco Corporation See a Reversal After Breaking Its 52 Week High?

The stock of Harsco Corporation (NYSE:HSC) hit a new 52-week high and has $13.82 target or 8.00% above today’s $12.80 share price. The 9 months bullish chart indicates low risk for the $1.03 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $13.82 price target is reached, the company will be worth $82.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 135,160 shares traded hands. Harsco Corporation (NYSE:HSC) has risen 69.84% since April 20, 2016 and is uptrending. It has outperformed by 65.28% the S&P500.

Harsco Corporation (NYSE:HSC) Ratings Coverage

Out of 3 analysts covering Harsco Corporation (NYSE:HSC), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $19 is the highest target while $16 is the lowest. The $16.75 average target is 30.86% above today’s ($12.8) stock price. Harsco Corporation has been the topic of 5 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating given on Wednesday, October 7 by KeyBanc Capital Markets. Lake Street initiated Harsco Corporation (NYSE:HSC) rating on Tuesday, September 13. Lake Street has “Buy” rating and $17 price target. The firm has “Overweight” rating by KeyBanc Capital Markets given on Monday, August 17.

According to Zacks Investment Research, “Harsco Corporation is a services and engineered products company. The principal lines of business are: mill services that are provided to steel and non-ferrous metal producers; gas control and containment products; scaffolding services; railway maintenance of way services and equipment; and several other lines of business including, process equipment, industrial grating and bridge decking, industrial pipe fittings, slag abrasives and roofing granules.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.20, from 1.12 in 2016Q1. The ratio dived, as 22 funds sold all Harsco Corporation shares owned while 56 reduced positions. 26 funds bought stakes while 61 increased positions. They now own 63.72 million shares or 1.59% less from 64.74 million shares in 2016Q1.
Sei Invests reported 160,784 shares or 0.01% of all its holdings. The Maryland-based Proshare Advsr Limited Liability has invested 0% in Harsco Corporation (NYSE:HSC). Peak6 Invests Lp has 0% invested in the company for 8,452 shares. Huntington National Bank & Trust owns 1,280 shares or 0% of their US portfolio. Kcg Holding holds 24,116 shares or 0% of its portfolio. Ahl Partners Llp accumulated 20,976 shares or 0.01% of the stock. Teachers Retirement Of The State Of Kentucky has invested 0% of its portfolio in Harsco Corporation (NYSE:HSC). Ameriprise Financial has invested 0% of its portfolio in Harsco Corporation (NYSE:HSC). Louisiana State Employees Retirement Systems has 35,500 shares for 0.01% of their US portfolio. Victory Mgmt Inc accumulated 2.19M shares or 0.06% of the stock. Hanson & Doremus Investment has 0.06% invested in the company for 20,230 shares. Creative Planning last reported 0% of its portfolio in the stock. Comerica National Bank holds 80,120 shares or 0.01% of its portfolio. Nordea Management Ab has 0% invested in the company for 94,477 shares. Int Group Inc has 0% invested in the company for 59,902 shares.

More important recent Harsco Corporation (NYSE:HSC) news were published by: Fool.com which released: “Preliminary Results Send Harsco Corporation’s Stock Soaring” on July 14, 2016, also Fool.com published article titled: “Here’s Why Harsco Corporation’s Stock is Getting Hammered Today”, Businesswire.com published: “Fitch Rates Harsco Corporation’s New Credit Facilities ‘BB+/RR1′” on October 21, 2016. More interesting news about Harsco Corporation (NYSE:HSC) was released by: Businesswire.com and their article: “Fitch Downgrades Harsco Corporation to ‘BB’; Outlook Negative” with publication date: March 29, 2016.

HSC Company Profile

Harsco Corporation, incorporated on February 28, 1956, is a well-known provider of industrial services and engineered products serving global industries. The Firm operates in three divisions: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Company’s Harsco Metals & Minerals segment is a well-known provider of on-site, outsourced services to the metals industries across the world. Harsco Industrial segment includes the Harsco Industrial IKG, Harsco Industrial Air-X-Changers and Harsco Industrial Patterson-Kelley businesses. Harsco Rail segment is a well-known provider of equipment and services for the maintenance, repair and construction of railway track. The Company’s principal lines of business include outsourced, on-site services of material logistics and resource recovery for iron, steel and metals manufacturing; air-cooled heat exchangers; industrial grating products; heat transfer products, and railway track maintenance services and equipment.

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