Brokerages Set Calgon Carbon Corp. (CCC) Price Target at $15.60
Shares of Calgon Carbon Corp. (NYSE:CCC) have received an average recommendation of “Hold” from the nine analysts that are covering the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.60.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Calgon Carbon Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Robert W. Baird raised shares of Calgon Carbon Corp. from a “neutral” rating to an “outperform” rating and raised their target price for the company from $16.00 to $19.00 in a research note on Tuesday, October 4th. Finally, Avondale Partners raised shares of Calgon Carbon Corp. from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Monday, August 8th.
Calgon Carbon Corp. (NYSE:CCC) opened at 17.95 on Friday. The firm has a market cap of $908.88 million, a price-to-earnings ratio of 33.30 and a beta of 1.09. Calgon Carbon Corp. has a 52-week low of $12.70 and a 52-week high of $18.25. The stock has a 50 day moving average of $16.12 and a 200-day moving average of $14.84.
Calgon Carbon Corp. (NYSE:CCC) last released its earnings results on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company had revenue of $124 million for the quarter, compared to analyst estimates of $127.46 million. Calgon Carbon Corp. had a net margin of 5.41% and a return on equity of 6.93%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, analysts expect that Calgon Carbon Corp. will post $0.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.11%. Calgon Carbon Corp.’s dividend payout ratio (DPR) is 37.04%.
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In other news, Director William R. Newlin sold 34,014 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $14.98, for a total transaction of $509,529.72. Following the completion of the transaction, the director now owns 206,483 shares in the company, valued at approximately $3,093,115.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC boosted its position in shares of Calgon Carbon Corp. by 53.7% in the second quarter. Riverhead Capital Management LLC now owns 11,616 shares of the company’s stock valued at $119,000 after buying an additional 4,056 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Calgon Carbon Corp. during the second quarter valued at approximately $126,000. Mason Street Advisors LLC purchased a new position in shares of Calgon Carbon Corp. during the second quarter valued at approximately $130,000. Paloma Partners Management Co purchased a new position in shares of Calgon Carbon Corp. during the second quarter valued at approximately $136,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Calgon Carbon Corp. during the second quarter valued at approximately $166,000. Institutional investors own 88.75% of the company’s stock.
About Calgon Carbon Corp.
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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