Zacks Investment Research upgraded shares of Calgon Carbon Corporation (NYSE:CCC) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Calgon Carbon continues to grow through its product offerings and increased penetration into new and emerging end markets. It is also focused on cost cutting initiatives, which should drive its margins in 2017. The company should also gain from the acquisition of CECA’s assets. However, Calgon Carbon has underperformed the industry it belongs to over a year. Calgon Carbon’s industrial end-markets remain sluggish. The company is seeing weak demand for activated carbon in specific markets. It is also exposed to weakness in its equipment business and currency headwinds.”
A number of other analysts have also recently commented on CCC. ValuEngine raised shares of Calgon Carbon Corporation from a sell rating to a hold rating in a research note on Saturday, June 3rd. Sidoti started coverage on shares of Calgon Carbon Corporation in a research note on Wednesday, June 7th. They set a buy rating and a $18.00 target price for the company. BidaskClub raised shares of Calgon Carbon Corporation from a hold rating to a buy rating in a research note on Tuesday, July 11th. Finally, Janney Montgomery Scott cut shares of Calgon Carbon Corporation from a buy rating to a neutral rating and cut their target price for the stock from $18.00 to $16.00 in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $18.20.
Calgon Carbon Corporation (NYSE CCC) opened at 13.30 on Wednesday. The stock’s 50 day moving average price is $13.61 and its 200-day moving average price is $14.26. Calgon Carbon Corporation has a 12 month low of $12.00 and a 12 month high of $18.80. The stock has a market cap of $675.56 million, a price-to-earnings ratio of 95.68 and a beta of 1.14.
Calgon Carbon Corporation (NYSE:CCC) last released its earnings results on Friday, August 4th. The industrial products company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $151.18 million. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Equities analysts expect that Calgon Carbon Corporation will post $0.50 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.20 annualized dividend and a yield of 1.50%. Calgon Carbon Corporation’s dividend payout ratio is presently 133.33%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Calgon Carbon Corporation by 18,763.5% during the 1st quarter. BlackRock Inc. now owns 6,327,956 shares of the industrial products company’s stock valued at $92,388,000 after acquiring an additional 6,294,410 shares in the last quarter. Vanguard Group Inc. grew its stake in Calgon Carbon Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,729,298 shares of the industrial products company’s stock valued at $71,412,000 after acquiring an additional 107,866 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Calgon Carbon Corporation by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,170,893 shares of the industrial products company’s stock valued at $47,881,000 after acquiring an additional 315,651 shares in the last quarter. Victory Capital Management Inc. grew its stake in Calgon Carbon Corporation by 14.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,117,732 shares of the industrial products company’s stock valued at $30,919,000 after acquiring an additional 260,723 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Calgon Carbon Corporation by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,503,373 shares of the industrial products company’s stock valued at $21,948,000 after acquiring an additional 10,322 shares in the last quarter. 85.19% of the stock is owned by institutional investors.
About Calgon Carbon Corporation
Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.
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