Zacks Upgrades Chemtura Corp. to “Outperform” (CHMT)
Chemtura Corp. (NYSE:CHMT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Monday, Analyst Ratings Network reports. The firm currently has a $28.30 target price on the stock. Zacks‘ price target points to a potential upside of 8.22% from the company’s current price.
Chemtura Corp. (NYSE:CHMT) traded down 1.54% on Monday, hitting $26.15. 633,046 shares of the company’s stock traded hands. Chemtura Corp. has a 1-year low of $19.05 and a 1-year high of $28.17. The stock has a 50-day moving average of $26.69 and a 200-day moving average of $23.88. The company’s market cap is $2.523 billion.
Chemtura Corp. (NYSE:CHMT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.10. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $556.33 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Chemtura Corp. will post $0.64 EPS for the current fiscal year.
A number of other firms have also recently commented on CHMT. Analysts at SunTrust initiated coverage on shares of Chemtura Corp. in a research note to investors on Wednesday, December 18th. They set a “buy” rating and a $33.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Chemtura Corp. from a “hold” rating to a “sell” rating in a research note to investors on Thursday, December 12th. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Chemtura Corp. in a research note to investors on Tuesday, November 26th. They set a “buy” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.46.
Chemtura Corporation (NYSE:CHMT) is a diversified global developer, manufacturer and marketer of performance-driven engineered specialty chemicals.
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