Cytec Industries Stock Rating Lowered by Zacks (CYT)
Cytec Industries (NYSE:CYT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $83.50 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 7.77% from the company’s current price.
CYT has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cytec Industries (NYSE:CYT) in a research note to investors on Monday, July 22nd. They now have a $82.00 price target on the stock, down previously from $84.00. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Cytec Industries (NYSE:CYT) from a “sell” rating to a “buy” rating in a research note to investors on Monday, July 8th. They now have a GBX 93 ($1.45) price target on the stock, up previously from GBX 69 ($1.08). Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cytec Industries (NYSE:CYT) in a research note to investors on Monday, July 1st. They now have a $84.00 price target on the stock.
Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $82.90.
Shares of Cytec Industries (NYSE:CYT) traded up 0.68% during mid-day trading on Tuesday, hitting $78.01. The stock had a trading volume of 228,502 shares. Cytec Industries has a 52 week low of $63.05 and a 52 week high of $80.69. The stock’s 50-day moving average is $77.31 and its 200-day moving average is $74.88. The company has a market cap of $2.846 billion and a price-to-earnings ratio of 20.75.
Cytec Industries (NYSE:CYT) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.25 by $0.26. The company had revenue of $514.00 million for the quarter, compared to the consensus estimate of $502.60 million. During the same quarter last year, the company posted $1.55 earnings per share. Cytec Industries’s revenue was up 27.2% compared to the same quarter last year. On average, analysts predict that Cytec Industries will post $4.84 earnings per share for the current fiscal year.
Cytec Industries Inc (NYSE:CYT) is a specialty chemicals and materials company focused on developing, manufacturing and selling value-added products.
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