Calgon Carbon Corp. (CCC) Raised to Outperform at Robert W. Baird
Calgon Carbon Corp. (NYSE:CCC) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday. The brokerage currently has a $19.00 target price on the stock, up from their previous target price of $16.00. Robert W. Baird’s price objective would suggest a potential upside of 17.79% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Calgon Carbon Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Avondale Partners raised Calgon Carbon Corp. from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Calgon Carbon Corp. has an average rating of “Hold” and an average target price of $16.43.
Shares of Calgon Carbon Corp. (NYSE:CCC) traded down 1.77% during mid-day trading on Tuesday, reaching $16.13. The company’s stock had a trading volume of 421,683 shares. The company’s 50-day moving average is $14.88 and its 200 day moving average is $14.53. The firm has a market capitalization of $816.57 million, a P/E ratio of 25.16 and a beta of 1.10. Calgon Carbon Corp. has a 1-year low of $12.70 and a 1-year high of $18.22.
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Calgon Carbon Corp. (NYSE:CCC) last posted its quarterly earnings results on Friday, August 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by $0.02. The business earned $132.60 million during the quarter, compared to analyst estimates of $130.07 million. Calgon Carbon Corp. had a net margin of 6.42% and a return on equity of 8.36%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, analysts expect that Calgon Carbon Corp. will post $0.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.24%. Calgon Carbon Corp.’s dividend payout ratio (DPR) is 31.25%.
Several institutional investors have recently added to or reduced their stakes in CCC. Riverhead Capital Management LLC boosted its position in Calgon Carbon Corp. by 53.7% in the second quarter. Riverhead Capital Management LLC now owns 11,616 shares of the company’s stock worth $119,000 after buying an additional 4,056 shares during the period. Tower Research Capital LLC TRC bought a new position in Calgon Carbon Corp. during the second quarter worth $126,000. Mason Street Advisors LLC bought a new position in Calgon Carbon Corp. during the second quarter worth $130,000. Paloma Partners Management Co bought a new position in Calgon Carbon Corp. during the second quarter worth $136,000. Finally, Royal Bank of Canada boosted its position in Calgon Carbon Corp. by 717.9% in the first quarter. Royal Bank of Canada now owns 11,729 shares of the company’s stock worth $164,000 after buying an additional 10,295 shares during the period. 83.44% of the stock is owned by institutional investors.
Calgon Carbon Corp. Company Profile
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment, ultraviolet light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions, and various industrial and commercial manufacturing processes.
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