Calgon Carbon Corporation (CCC) Rating Increased to Hold at Zacks Investment Research
Calgon Carbon Corporation (NYSE:CCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Calgon Carbon continues to grow through its product offerings and increased penetration into new and emerging end markets. It is also focused on cost cutting initiatives, which should drive its margins in 2017. The company should also gain from the acquisition of CECA’s assets. However, Calgon Carbon has underperformed the industry it belongs to over a year. Calgon Carbon’s industrial end-markets remain sluggish. The company is seeing weak demand for activated carbon in specific markets. It is also exposed to weakness in its equipment business and currency headwinds.”
A number of other research firms have also weighed in on CCC. Janney Montgomery Scott lowered shares of Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Thursday, July 13th. ValuEngine upgraded shares of Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. BidaskClub upgraded shares of Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Sidoti started coverage on shares of Calgon Carbon Corporation in a report on Wednesday, June 7th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.20.
Calgon Carbon Corporation (NYSE:CCC) traded down 0.38% on Wednesday, hitting $12.95. The stock had a trading volume of 152,411 shares. The company has a market cap of $657.78 million, a P/E ratio of 93.17 and a beta of 1.14. Calgon Carbon Corporation has a 52-week low of $12.00 and a 52-week high of $18.80. The stock’s 50-day moving average is $13.93 and its 200-day moving average is $14.29.
Calgon Carbon Corporation (NYSE:CCC) last posted its earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.14. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $151.18 million. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. Calgon Carbon Corporation’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. Analysts expect that Calgon Carbon Corporation will post $0.50 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of CCC. Envestnet Asset Management Inc. lifted its holdings in Calgon Carbon Corporation by 10.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,703 shares of the industrial products company’s stock worth $113,000 after buying an additional 747 shares during the period. State of Alaska Department of Revenue lifted its holdings in Calgon Carbon Corporation by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 10,023 shares of the industrial products company’s stock worth $151,000 after buying an additional 4,433 shares during the period. BlueCrest Capital Management Ltd lifted its holdings in Calgon Carbon Corporation by 5.7% in the first quarter. BlueCrest Capital Management Ltd now owns 10,621 shares of the industrial products company’s stock worth $155,000 after buying an additional 571 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Calgon Carbon Corporation by 0.4% in the first quarter. BNP Paribas Arbitrage SA now owns 11,390 shares of the industrial products company’s stock worth $166,000 after buying an additional 51 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new stake in Calgon Carbon Corporation in the second quarter worth about $166,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
About Calgon Carbon Corporation
Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.
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