Zacks Investment Research Lowers Heritage-Crystal Clean (NASDAQ:HCCI) to Hold

Zacks Investment Research downgraded shares of Heritage-Crystal Clean (NASDAQ:HCCI – Get Rating) from a strong-buy rating to a hold rating in a report issued on Tuesday, 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. “

HCCI has been the subject of several other research reports. StockNews.com started coverage on Heritage-Crystal Clean in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Needham & Company LLC reiterated a buy rating and set a $39.00 price target on shares of Heritage-Crystal Clean in a research note on Friday, March 4th. Finally, Roth Capital reiterated a buy rating on shares of Heritage-Crystal Clean in a research note on Monday, March 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Heritage-Crystal Clean has a consensus rating of Buy and a consensus target price of $37.60.

Shares of NASDAQ:HCCI opened at $26.08 on Tuesday. The company has a market capitalization of $633.27 million, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24. The business has a fifty day moving average price of $28.29 and a two-hundred day moving average price of $30.24. Heritage-Crystal Clean has a 1 year low of $25.31 and a 1 year high of $36.29.

Heritage-Crystal Clean (NASDAQ:HCCI – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.08. Heritage-Crystal Clean had a return on equity of 19.68% and a net margin of 11.76%. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, sell-side analysts forecast that Heritage-Crystal Clean will post 2.06 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Dorsey Wright & Associates purchased a new stake in Heritage-Crystal Clean during the 4th quarter worth about $54,000. Citigroup Inc. lifted its holdings in Heritage-Crystal Clean by 99.7% during the 3rd quarter. Citigroup Inc. now owns 2,057 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,027 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Heritage-Crystal Clean in the 4th quarter valued at about $808,000. Martingale Asset Management L P purchased a new stake in shares of Heritage-Crystal Clean in the 3rd quarter valued at about $373,000. Finally, Marshall Wace LLP raised its holdings in shares of Heritage-Crystal Clean by 197.4% in the 3rd quarter. Marshall Wace LLP now owns 46,993 shares of the industrial products company’s stock valued at $1,362,000 after acquiring an additional 31,190 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Heritage-Crystal Clean Company Profile (Get Rating)

Heritage-Crystal Clean, Inc, through its subsidiary, Heritage-Crystal Clean, LLC, provides parts cleaning, hazardous and non-hazardous waste, and used oil collection services to small and mid-sized customers in the industrial and vehicle maintenance sectors in the United States and Canada. It operates through two segments, Environmental Services and Oil Business.

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