PQ Group Holdings Inc. (PQG) Surged 13.93%, Can Traders Take Benefit?

PQ Group Holdings Inc. (PQG) share price soared 13.93% with the closing price of $12.84 on Friday. PQ Group Holdings Inc. stock has an exchanging volume of 0.46 million shares, which is high, contrasted with its 3-months average volume of 206.91K shares. Its market capitalization has now reached to $1.70B and analysts have a consensus target price of $15.75 in the 12-month period.

PQ Group Holdings Advances Portfolio Strategy: Enters Agreement to Sell Performance Materials and Launches Strategic Alternatives Review Process for Performance Chemicals on October 15, 2020 news published at Yahoo.

PQ Group Holdings Inc. (PQG) declared that it entered into a definitive agreement to sell its Performance Materials business for a purchase price of $650 million to an affiliate of The Jordan Company, L.P. (“TJC”), a U.S. middle-market private equity firm (www.thejordancompany.com) that was founded in 1982.

The company expects to use after tax cash proceeds from the sale of its Performance Materials business, along with a portion of existing cash balances, to reduce debt by approximately $460 million while also allocating up to $250 million, or $1.84 per share, to a planned special dividend to shareholders that is subject to board approval and declaration.

The sale of Performance Materials is anticipated to close by the end of 2020, subject to regulatory approvals and customary closing conditions.

Goldman Sachs & Co., LLC and Harris Williams LLC are serving as financial advisors and Ropes & Gray LLP is serving as legal counsel, to PQ. Kirkland & Ellis LLP is serving as legal counsel for TJC.

Citigroup announced it was Downgrade coverage of PQ Group Holdings Inc. in a research note on February 11, 2020. The analysts assigned a Neutral rating to the stock with a price target of $18. Goldman rated the stock as a Sell in a research noted published on November 18, 2019. JP Morgan rated the stock as a Neutral in a research note published on August 10, 2018.

PQG Past Trading Activity

The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, PQG price has rose by 14.95%. In the course of past three months sees the stock go down around -3.75%, while it has gain 28.66% over the past six months and -25.26% since the start of the year.

PQG Earning History

Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter of (Sep 2020), the firm recorded a revenue of 359.52 billion, which was higher than the gauge of 387.44M made by certain experts. For that equivalent quarter, PQ Group Holdings Inc. posted $0.22 earnings per share (EPS) which was above the consensus estimate of $0.19 by $0.03, which represents to an expansion by 15.80%.

PQG Price Performance

Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on PQ Group Holdings Inc. has seen its stock exchanging -7.89% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +31.29% above its three-month low. A more extensive look sees PQG exchanging -25.61% beneath its 52-week high and 51.06% above from its 52-week low price.

PQG Instability & Beta Factor

The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 2.79%, while it has a month to month instability of 3.91%. The company has an ATR (Average True Range) of 0.48.

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