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KRA

Kraton

$36.35

-0.16 (-0.44%)

16:28
04/24/19
04/24
16:28
04/24/19
16:28

Kraton backs FY19 adjusted EBITDA view $370M-$390M

Management said, "At the time of our fourth quarter earnings release we highlighted a possible timing difference between lost sales and associated margin in the first quarter 2019 and the reimbursement by our insurance carriers in a subsequent quarter. However, during the first quarter 2019 we recognized a gain on insurance which offset the lost margin of $5.9 million, eliminating the previously anticipated timing difference. We continue to anticipate that 2019 Adjusted EBITDA will be in a range of $370-$390 million. Consistent with the aforementioned 2019 Adjusted EBITDA range, and excluding any activity under the previously announced share buyback program, we currently anticipate reducing consolidated net debt (excluding the effects of foreign currency) by $170 - $190 million in 2019."

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KRA Kraton
$36.35

-0.16 (-0.44%)

10/26/18
10/26/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Colgate-Palmolive (CL) downgraded to Hold from Buy at SunTrust with analyst William Chappell citing "another disappointing" quarterly result this morning. 2. Cerner (CERN) downgraded to Sector Perform from Outperform at RBC Capital with analyst George Hill saying the slowing market for health care information technology companies, as well as the company's slower rate of growth, warrant a lower multiple on the stock. 3. Kraton (KRA) downgraded to Hold from Buy at SunTrust with analyst James Sheehan saying the management has cited "weakening demand, tariff impacts, escalating logistics costs and an extended plant outage" in reducing its outlook. 4. Western Digital (WDC) downgraded to Neutral from Buy at Longbow, to Neutral from Overweight at JPMorgan, as well as to Hold from Buy at Benchmark and Craig-Hallum. 5. Jack in the Box (JACK) downgraded to Neutral from Outperform at Wedbush with analyst Nick Setyan saying given the company's franchised model and franchisee unrest, he can no longer assume that many of the initiatives through FY22 that his positive recommendation was based on will occur. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/10/18
STFL
12/10/18
INITIATION
Target $22
STFL
Hold
Kraton initiated with a Hold at Stifel
Stifel analyst Vincent Anderson initiated Kraton with a Hold rating and a price target of $22. The analyst notes that the company has exposure to "good longer term growth outlets" in medical and personal care but also faces near term headwinds from "competitively priced substitutes in SBCs, rubber, and pine chemicals". Anderson also points to the recent plant outage delaying Kraton's deleveraging.
01/24/19
LOOP
01/24/19
NO CHANGE
Target $59
LOOP
Buy
Kraton shares 'unjustifiably' cheap, says Loop Capital
Loop Capital analyst Chris Kapsch kept his Buy rating and $59 price target on Kraton, saying his recent conversations with its CFO Chris Russell did not indicate any "trepidation about recent macroeconomic and/or trade developments tied to China." While Russell acknowledged some of the operational "hiccups" in Q3, Kapsch notes that much of the distraction was related to Kraton's operations in the Florida panhandle, where one of the company's CTO refineries operates. The analyst adds that Kraton shares are "very cheap" given the company's "relatively-differentiated portfolio mix, attractive end-market profile, and healthy EBITDA margins", but he is uncertain of what catalyst can shift investor perception toward greater value for the stock.
03/01/19
RHCO
03/01/19
NO CHANGE
Target $39
RHCO
Buy
Kraton price target raised to $39 from $27 at SunTrust
SunTrust analyst James Sheehan raised his price target on Kraton to $39 amid the rising peer group valuations and to reflect the possibility of value creation from the potential divestiture of its "highly profitable ariflexisoprene rubber business". The analyst also keeps his Hold rating on the shares because its progress on deleveraging is being "stalled by macro headwinds and costs from unplanned outages", noting that Kraton stock will likely trade range bound.

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KMI

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