Rockwood Holdings Stock Rating Lowered by Bank of America Corp. (ROC)
Rockwood Holdings (NYSE:ROC) was downgraded by equities researchers at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $73.00 price target on the stock. Bank of America Corp.’s target price indicates a potential upside of 7.43% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $78.00 price target on the stock, down previously from $80.00. Separately, analysts at Deutsche Bank downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. They now have a $70.00 price target on the stock, down previously from $77.00. They noted that the move was a valuation call. Finally, analysts at Zacks downgraded shares of Rockwood Holdings (NYSE:ROC) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, August 8th. They now have a $62.90 price target on the stock.
One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.70.
Rockwood Holdings (NYSE:ROC) opened at 67.95 on Monday. Rockwood Holdings has a one year low of $42.02 and a one year high of $69.60. The stock has a 50-day moving average of $65.28 and a 200-day moving average of $65.1. The company has a market cap of $5.076 billion and a price-to-earnings ratio of 40.25.
Rockwood Holdings (NYSE:ROC) last released its earnings data on Monday, August 5th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.13. The company had revenue of $972.30 million for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Rockwood Holdings will post $2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 26th. Investors of record on Wednesday, September 11th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Rockwood Holdings’s previous quarterly dividend of $0.40.
Rockwood Holdings, Inc (NYSE:ROC) is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes.
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