Cytec Industries Inc. Reaches New 12-Month High at $80.87 (CYT)
Cytec Industries (NYSE:CYT)’s share price reached a new 52-week high during mid-day trading on Friday, Stock Ratings Network.com reports. The stock traded as high as $80.87 and last traded at $80.85, with a volume of 288,891 shares traded. The stock had previously closed at $79.77.
CYT has been the subject of a number of recent research reports. Analysts at Oppenheimer initiated coverage on shares of Cytec Industries (NYSE:CYT) in a research note to investors on Thursday. They set an “outperform” rating and a $96.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Cytec Industries (NYSE:CYT) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 10th. They now have a $83.50 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $85.08.
Cytec Industries has a one year low of $63.05 and a one year high of $80.69. The stock has a 50-day moving average of $77.56 and a 200-day moving average of $75.38. The company has a market cap of $2.955 billion and a P/E ratio of 21.36.
Cytec Industries (NYSE:CYT) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.55 earnings per share. The company’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts expect that Cytec Industries will post $4.82 EPS 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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