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

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

According to Zacks, “Earnings estimates of Calgon Carbon for the third quarter have been going down 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 and currency headwinds.”

A number of other equities analysts have also commented on the stock. Sidoti lowered shares of Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $20.00 in a research report on Monday, September 25th. Robert W. Baird raised their target price on shares of Calgon Carbon Corporation from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, September 22nd. Janney Montgomery Scott lowered shares of Calgon Carbon Corporation from a “neutral” rating to a “sell” rating and set a $21.50 target price on the stock. in a research report on Thursday, September 21st. Finally, BidaskClub lowered shares of Calgon Carbon Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Calgon Carbon Corporation has an average rating of “Hold” and an average price target of $19.63.

Calgon Carbon Corporation (NYSE:CCC) traded up 0.23% during mid-day trading on Tuesday, hitting $21.55. The company had a trading volume of 438,037 shares. The stock has a 50 day moving average price of $16.00 and a 200-day moving average price of $14.95. Calgon Carbon Corporation has a 1-year low of $12.00 and a 1-year high of $22.10. The stock has a market capitalization of $1.09 billion, a PE ratio of 155.04 and a beta of 1.26.

Calgon Carbon Corporation (NYSE:CCC) last posted its quarterly earnings data 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. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The company had revenue of $153.00 million for the quarter, compared to analyst estimates of $151.18 million. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts forecast that Calgon Carbon Corporation will post $0.50 earnings per share for the current year.

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Several large investors have recently modified their holdings of CCC. Envestnet Asset Management Inc. increased its position in shares of Calgon Carbon Corporation by 10.7% during the first quarter. Envestnet Asset Management Inc. now owns 7,703 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 747 shares during the period. State of Alaska Department of Revenue increased its position in shares of Calgon Carbon Corporation by 79.3% during 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 acquiring an additional 4,433 shares during the period. BlueCrest Capital Management Ltd increased its position in shares of Calgon Carbon Corporation by 5.7% during the first quarter. BlueCrest Capital Management Ltd now owns 10,621 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 571 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Calgon Carbon Corporation by 0.4% during the first quarter. BNP Paribas Arbitrage SA now owns 11,390 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 51 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Calgon Carbon Corporation during the second quarter worth approximately $166,000. 85.18% of the stock is currently owned by institutional investors and hedge funds.

Calgon Carbon Corporation Company Profile

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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