B. Riley Reiterates “$8.00” Price Target for Hudson Technologies, Inc. (HDSN)

Hudson Technologies, Inc. (NASDAQ:HDSN) received a $8.00 target price from equities researchers at B. Riley in a report released on Wednesday. The brokerage presently has a “hold” rating on the industrial products company’s stock. B. Riley’s target price indicates a potential upside of 5.68% from the company’s current price.

The analysts wrote, “We base our new price target on an unchanged multiple of ~10x our new FY18 EBITDA estimate. HDSN also announced the closing of its Airgas-Refrigerants (ARI) acquisition in conjunction with its 3Q pre-announcement. Although financial details were spared in Tuesday’s release, we note the combined entity would have generated pro forma revenues of $275MM on a trailing-12 month basis through the end of 2Q. Recall the combined businesses are expected to have a margin profile consistent with HDSN’s financial targets (including a GM% of 30% and OM% at the 20%-plus range). Our initial back-of-the-envelope analysis from August suggests that the acquired entity could generate operating profits in the $25MM-$30MM range.””

Several other equities analysts also recently commented on HDSN. Roth Capital set a $10.00 target price on shares of Hudson Technologies and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded shares of Hudson Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, ValuEngine raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Hudson Technologies has an average rating of “Hold” and a consensus target price of $9.25.

Shares of Hudson Technologies (NASDAQ HDSN) opened at 7.57 on Wednesday. The firm has a 50-day moving average of $8.53 and a 200 day moving average of $8.07. The stock has a market capitalization of $315.19 million, a PE ratio of 17.73 and a beta of 1.11. Hudson Technologies has a 1-year low of $5.55 and a 1-year high of $10.40.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Hudson Technologies had a net margin of 12.80% and a return on equity of 16.99%. The business had revenue of $52.23 million for the quarter, compared to the consensus estimate of $46.34 million. Analysts predict that Hudson Technologies will post $0.40 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the business. West Face Capital Inc. increased its position in Hudson Technologies by 8.3% during the second quarter. West Face Capital Inc. now owns 2,620,580 shares of the industrial products company’s stock valued at $22,144,000 after acquiring an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Hudson Technologies by 18.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,710,780 shares of the industrial products company’s stock valued at $14,456,000 after acquiring an additional 267,862 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in Hudson Technologies by 3.9% during the second quarter. Cooper Creek Partners Management LLC now owns 1,506,291 shares of the industrial products company’s stock valued at $12,728,000 after acquiring an additional 56,500 shares during the last quarter. Vanguard Group Inc. increased its position in Hudson Technologies by 12.8% during the second quarter. Vanguard Group Inc. now owns 1,417,857 shares of the industrial products company’s stock valued at $11,980,000 after acquiring an additional 160,663 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Hudson Technologies by 42.2% during the second quarter. Systematic Financial Management LP now owns 1,270,735 shares of the industrial products company’s stock valued at $10,738,000 after acquiring an additional 376,940 shares during the last quarter. Institutional investors and hedge fun

The analysts wrote, “We base our new price target on an unchanged multiple of ~10x our new FY18 EBITDA estimate. HDSN also announced the closing of its Airgas-Refrigerants (ARI) acquisition in conjunction with its 3Q pre-announcement. Although financial details were spared in Tuesday’s release, we note the combined entity would have generated pro forma revenues of $275MM on a trailing-12 month basis through the end of 2Q. Recall the combined businesses are expected to have a margin profile consistent with HDSN’s financial targets (including a GM% of 30% and OM% at the 20%-plus range). Our initial back-of-the-envelope analysis from August suggests that the acquired entity could generate operating profits in the $25MM-$30MM range.””

Several other equities analysts also recently commented on HDSN. Roth Capital set a $10.00 target price on shares of Hudson Technologies and gave the stock a “buy” rating in a report on Saturday, June 17th. BidaskClub raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded shares of Hudson Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, ValuEngine raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Hudson Technologies has an average rating of “Hold” and a consensus target price of $9.25.

Shares of Hudson Technologies (NASDAQ HDSN) opened at 7.57 on Wednesday. The firm has a 50-day moving average of $8.53 and a 200 day moving average of $8.07. The stock has a market capitalization of $315.19 million, a PE ratio of 17.73 and a beta of 1.11. Hudson Technologies has a 1-year low of $5.55 and a 1-year high of $10.40.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Hudson Technologies had a net margin of 12.80% and a return on equity of 16.99%. The business had revenue of $52.23 million for the quarter, compared to the consensus estimate of $46.34 million. Analysts predict that Hudson Technologies will post $0.40 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/hudson-technologies-inc-hdsn-earns-hold-rating-from-b-riley.html.

A number of hedge funds have recently bought and sold shares of the business. West Face Capital Inc. increased its position in Hudson Technologies by 8.3% during the second quarter. West Face Capital Inc. now owns 2,620,580 shares of the industrial products company’s stock valued at $22,144,000 after acquiring an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Hudson Technologies by 18.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,710,780 shares of the industrial products company’s stock valued at $14,456,000 after acquiring an additional 267,862 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in Hudson Technologies by 3.9% during the second quarter. Cooper Creek Partners Management LLC now owns 1,506,291 shares of the industrial products company’s stock valued at $12,728,000 after acquiring an additional 56,500 shares during the last quarter. Vanguard Group Inc. increased its position in Hudson Technologies by 12.8% during the second quarter. Vanguard Group Inc. now owns 1,417,857 shares of the industrial products company’s stock valued at $11,980,000 after acquiring an additional 160,663 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Hudson Technologies by 42.2% during the second quarter. Systematic Financial Management LP now owns 1,270,735 shares of the industrial products company’s stock valued at $10,738,000 after acquiring an additional 376,940 shares during the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.

About Hudson Technologies

Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.

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