Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Harsco Has A Long Road, But A Better Plan

I wasn't sold on Harsco's (NYSE:HSC) recovery plans around eight months ago, or at least the extent to which the valuation on the shares already assumed a lot of improvement. The shares have been volatile since then, declining almost 20%, before a recent recovery run has taken them back to basically flat. I'm more optimistic about the company's plan and outlook today, but the valuation is still not compelling enough to me.

What's Changed In Eight Months

Harsco has been talking about restructuring and turning around/improving operations for a few years now, so it's understandable if analysts and investors are a bid jaded by now. The CEO situation hasn't helped matters; it took the company longer...

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