Calgon Carbon Corporation (CCC) Upgraded 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 released 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.”

Several other brokerages also recently issued reports on CCC. Janney Montgomery Scott downgraded shares of Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Thursday, July 13th. Sidoti reissued a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Calgon Carbon Corporation in a research report on Wednesday, July 12th. BidaskClub raised shares of Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, ValuEngine raised shares of Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Calgon Carbon Corporation currently has an average rating of “Hold” and a consensus price target of $18.20.

Calgon Carbon Corporation (NYSE:CCC) remained flat at $13.00 during midday trading on Wednesday. The company’s stock had a trading volume of 27,593 shares. Calgon Carbon Corporation has a 52 week low of $12.00 and a 52 week high of $18.80. The stock has a market cap of $660.32 million, a PE ratio of 93.53 and a beta of 1.14. The company has a 50 day moving average price of $13.93 and a 200-day moving average price of $14.29.

Calgon Carbon Corporation (NYSE:CCC) last posted its earnings results on Friday, August 4th. The industrial products company reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. The firm had revenue of $153.00 million for the quarter, compared to the consensus estimate of $151.18 million. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. Analysts forecast that Calgon Carbon Corporation will post $0.50 EPS for the current year.

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Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Calgon Carbon Corporation by 18,763.5% during the 1st quarter. BlackRock Inc. now owns 6,327,956 shares of the industrial products company’s stock worth $92,388,000 after purchasing an additional 6,294,410 shares during the last quarter. BlueCrest Capital Management Ltd grew its position in Calgon Carbon Corporation by 5.7% during the 1st quarter. BlueCrest Capital Management Ltd now owns 10,621 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 571 shares during the last quarter. Teachers Advisors LLC grew its position in Calgon Carbon Corporation by 1.4% during the 1st quarter. Teachers Advisors LLC now owns 84,269 shares of the industrial products company’s stock worth $1,230,000 after purchasing an additional 1,195 shares during the last quarter. Royce & Associates LP grew its position in Calgon Carbon Corporation by 14.6% during the 2nd quarter. Royce & Associates LP now owns 947,598 shares of the industrial products company’s stock worth $14,309,000 after purchasing an additional 120,800 shares during the last quarter. Finally, Rockefeller Financial Services Inc. grew its position in Calgon Carbon Corporation by 13.6% during the 2nd quarter. Rockefeller Financial Services Inc. now owns 42,777 shares of the industrial products company’s stock worth $646,000 after purchasing an additional 5,126 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

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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