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

Zacks Investment Research lowered shares of Heritage-Crystal Clean (NASDAQ:HCCI) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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. “

A number of other analysts have also commented on the company. BidaskClub lowered Heritage-Crystal Clean from a sell rating to a strong sell rating in a report on Thursday, June 4th. Stifel Nicolaus cut their price objective on Heritage-Crystal Clean from $21.00 to $17.00 and set a hold rating for the company in a report on Friday, July 24th. Barrington Research began coverage on Heritage-Crystal Clean in a report on Wednesday, July 15th. They issued a buy rating and a $22.00 price objective for the company. Roth Capital cut their price objective on Heritage-Crystal Clean from $32.00 to $23.00 and set a buy rating for the company in a report on Thursday, April 30th. Finally, Needham & Company LLC cut their price objective on Heritage-Crystal Clean from $20.00 to $19.00 and set a buy rating for the company in a report on Friday, July 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Heritage-Crystal Clean currently has an average rating of Hold and an average price target of $22.17.

HCCI stock opened at $13.93 on Wednesday. Heritage-Crystal Clean has a twelve month low of $11.30 and a twelve month high of $32.58. The company has a quick ratio of 1.38, a current ratio of 1.72 and a debt-to-equity ratio of 0.35. The firm has a market cap of $324.01 million, a PE ratio of 49.75 and a beta of 1.64. The business has a 50 day moving average of $16.15 and a 200 day moving average of $19.95.

Heritage-Crystal Clean (NASDAQ:HCCI) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.06). The business had revenue of $79.52 million during the quarter, compared to the consensus estimate of $69.48 million. Heritage-Crystal Clean had a return on equity of 4.25% and a net margin of 1.50%. On average, 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 bought 3,500 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $13.95 per share, for a total transaction of $48,825.00. Following the completion of the transaction, the chief executive officer now owns 514,009 shares of the company’s stock, valued at $7,170,425.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can purchased a new position in Heritage-Crystal Clean during the fourth quarter valued at $31,000. BNP Paribas Arbitrage SA lifted its position in shares of Heritage-Crystal Clean by 76.9% in 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 purchased a new position in shares of Heritage-Crystal Clean in the second quarter valued at about $144,000. Credit Suisse AG lifted its position in shares of Heritage-Crystal Clean by 15.6% in the fourth quarter. Credit Suisse AG now owns 10,103 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 1,367 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new position in shares of Heritage-Crystal Clean in the first quarter valued at about $182,000. Institutional investors own 63.11% of the company’s stock.

Heritage-Crystal Clean Company Profile

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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