4. Kraton Performance Polymers (KRA) is a producer of styrenic block copolymers (SBCs). Its products find application in a range of everyday merchandize such as disposable baby diapers, rubberized grips of toothbrushes, razor blades, power tools, and in asphalt formulations used to pave roads.
The company will report its first quarter 2011 results on May 5. Total revenue is forecast to increase 21% to $330 million from $272.7 million in the year-ago quarter. Subsequently, net income is seen at $28.9 million, up 46% year-over-year. Earnings per share are projected to increase 25% to 80 cents from 64 cents reported in the first quarter of 2010.
The company recently concluded its secondary public offering of ~10 million shares of its common stock held by affiliates of TPG Capital L.P. and J.P. Morgan LLC., at a price of $37.75 per share. The company did not receive any proceeds from the offering, and the total number of shares of common stock outstanding did not change because of the offering.The stock was recently upgraded to buy with a price target of $55 from $47 at UBS. Also, analysts at Oppenheimer reiterated an outperform rating on the stock. Of the eight analysts covering the stock, 75% recommend it a buy, while 13% rate it a hold. On average, analysts expect an upside of 22% to $49.14 in value from current levels.
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