Economy

Calgon Carbon Corporation (CCC) Lowered to "Sell" at Janney Montgomery Scott

Calgon Carbon Corporation (CCC) Lowered to

Janney Capital has downgraded Calgon Carbon (NYSE:CCC) from Neutral to Sell in a report released on 09/21/2017.

Japanese chemical manufacturer Kuraray Co Ltd will buy USA firm Calgon Carbon Corp for $1.107 billion, Kuraray said on Thursday, adding the carbon materials firm as one of its core businesses. Calgon Carbon has recorded a 50-day average of $13.45 and a two hundred day average of $14.24. The stock now has an average rating of Hold and a consensus target price of $18.20. Calgon Carbon Corporation also declared a dividend that was paid on Thursday June 15th, 2017. The 12-month price target is $17.29 with 1 brokerage rating the stock a strong buy, 0 analysts rating the company a buy, six analysts rating the company a hold, zero analysts rating the company a underperform, and lastly zero equity analysts rating the company a sell.

Calgon Carbon Corporation (NYSE CCC) traded up 62.12% on Wednesday, hitting $21.40.

Traders are a little more bearish on the company lately if you take note of the change in short interest.

Bluecrest Capital Management Ltd added to its holdings by buying 1,050 shares an increase of 9.9% as of 06/30/2017.

Calgon Carbon Corporation (NYSE:CCC) last announced its earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share for the quarter, meeting the Zacks' consensus estimate of $0.14. The business had revenue of $153.00 million during the quarter, compared to the consensus estimate of $151.18 million. This recommendation lands on a scale between 1 and 5.

Calgon had net income a year ago of almost $14 million on sales of $514 million. During the same period past year, the business earned $0.15 EPS. In the last earnings report the EPS was $0.14 and is estimated to be $0.50 for the current year with 50,794,000 shares outstanding.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Equities Focus and is the property of of Equities Focus. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & worldwide copyright and trademark law. BlackRock Inc. grew its stake in shares of Calgon Carbon Corporation by 18,763.5% in the first quarter. BlackRock Inc. now owns 6,327,956 shares of the industrial products company's stock worth $92,388,000 after acquiring an additional 6,294,410 shares during the period. The Manufacturers Life Insurance Company now owns 39,264 shares of the industrial products company's stock worth $593,000 after purchasing an additional 156 shares during the last quarter.



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