Calgon Carbon Corp. (CCC) Upgraded to “Outperform” at Robert W. Baird
Robert W. Baird upgraded shares of Calgon Carbon Corp. (NYSE:CCC) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday morning. The firm currently has $19.00 target price on the stock, up from their prior target price of $16.00.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Calgon Carbon Corp. from a sell rating to a hold rating in a research report on Friday, September 23rd. Avondale Partners raised shares of Calgon Carbon Corp. from a market perform rating to an outperform rating and set a $16.00 price target on the stock in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $16.43.
Calgon Carbon Corp. (NYSE:CCC) traded up 1.21% during midday trading on Tuesday, reaching $15.89. The company’s stock had a trading volume of 53,948 shares. The stock has a 50-day moving average price of $14.71 and a 200 day moving average price of $14.49. The company has a market cap of $804.42 million, a PE ratio of 24.79 and a beta of 1.10. Calgon Carbon Corp. has a 12 month low of $12.70 and a 12 month high of $18.22.
Calgon Carbon Corp. (NYSE:CCC) last posted its earnings results on Friday, August 5th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Calgon Carbon Corp. had a return on equity of 8.36% and a net margin of 6.42%. The firm had revenue of $132.60 million for the quarter, compared to the consensus estimate of $130.07 million. During the same period in the prior year, the business earned $0.24 EPS. Calgon Carbon Corp.’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts expect that Calgon Carbon Corp. will post $0.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were given a dividend of $0.05 per share. 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 1.27%. Calgon Carbon Corp.’s dividend payout ratio (DPR) is currently 31.25%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new position in Calgon Carbon Corp. during the second quarter worth approximately $130,000. Schwab Charles Investment Management Inc. raised its position in Calgon Carbon Corp. by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 258,041 shares of the company’s stock worth $3,394,000 after buying an additional 19,605 shares during the period. Arizona State Retirement System raised its position in Calgon Carbon Corp. by 1.2% in the second quarter. Arizona State Retirement System now owns 26,239 shares of the company’s stock worth $345,000 after buying an additional 300 shares during the period. Highbridge Capital Management LLC purchased a new position in Calgon Carbon Corp. during the second quarter worth approximately $268,000. Finally, Cubist Systematic Strategies LLC raised its position in Calgon Carbon Corp. by 160.7% in the second quarter. Cubist Systematic Strategies LLC now owns 27,262 shares of the company’s stock worth $358,000 after buying an additional 16,805 shares during the period. Hedge funds and other institutional investors own 83.44% of the company’s stock.
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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