Calgon Carbon (CCC) Rating Lowered to Sell at Zacks Investment Research

Calgon Carbon (NYSE:CCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Earnings estimate of Calgon Carbon for the fourth quarter has been declining of late. 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. The company’s stretched valuation is another concern.”

CCC has been the topic of several other research reports. Sidoti downgraded shares of Calgon Carbon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $20.00 in a research note on Monday, September 25th. Robert W. Baird downgraded shares of Calgon Carbon from an “outperform” rating to a “hold” rating in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.63.

Shares of Calgon Carbon (NYSE CCC) remained flat at $$21.20 during midday trading on Tuesday. The company had a trading volume of 522,665 shares, compared to its average volume of 1,769,580. The stock has a market cap of $1,087.35, a P/E ratio of 176.68 and a beta of 1.20. Calgon Carbon has a 1 year low of $12.00 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.80 and a quick ratio of 1.68.

Calgon Carbon (NYSE:CCC) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Calgon Carbon had a return on equity of 5.65% and a net margin of 0.97%. analysts expect that Calgon Carbon will post 0.49 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CCC. Magnetar Financial LLC bought a new position in Calgon Carbon during the third quarter valued at approximately $51,004,000. Rutabaga Capital Management LLC MA bought a new position in Calgon Carbon during the second quarter valued at approximately $18,669,000. Allianz Asset Management GmbH bought a new position in Calgon Carbon during the third quarter valued at approximately $25,744,000. Gabelli Funds LLC bought a new position in Calgon Carbon during the third quarter valued at approximately $25,601,000. Finally, JPMorgan Chase & Co. lifted its position in Calgon Carbon by 981.6% during the third quarter. JPMorgan Chase & Co. now owns 853,931 shares of the industrial products company’s stock valued at $18,274,000 after purchasing an additional 774,981 shares during the period. Institutional investors own 95.83% of the company’s stock.

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About Calgon Carbon

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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