Calgon Carbon Corporation (CCC) Given New $21.00 Price Target at Robert W. Baird

Calgon Carbon Corporation (NYSE:CCC) had its price target boosted by analysts at Robert W. Baird from $17.00 to $21.00 in a note issued to investors on Friday. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential downside of 1.87% from the stock’s previous close.

CCC has been the topic of several other reports. Sidoti reiterated a “buy” rating and issued a $20.00 price objective (up from $18.00) on shares of Calgon Carbon Corporation in a research note on Wednesday, July 12th. BidaskClub cut Calgon Carbon Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Janney Montgomery Scott cut 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. Zacks Investment Research cut Calgon Carbon Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, ValuEngine upgraded Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Shares of Calgon Carbon Corporation (CCC) remained flat at $21.40 during midday trading on Friday. The company had a trading volume of 6,523,868 shares. The firm’s 50 day moving average price is $13.45 and its 200-day moving average price is $14.24. Calgon Carbon Corporation has a 12-month low of $12.00 and a 12-month high of $21.40. The firm has a market capitalization of $1.09 billion, a P/E ratio of 153.96 and a beta of 1.14.

Calgon Carbon Corporation (NYSE:CCC) last issued its quarterly earnings data on Friday, August 4th. The industrial products company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Calgon Carbon Corporation had a return on equity of 5.46% and a net margin of 1.27%. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $151.18 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts forecast that Calgon Carbon Corporation will post $0.50 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in CCC. BlackRock Inc. grew its stake in shares of 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 valued at $92,388,000 after buying an additional 6,294,410 shares during the period. Rutabaga Capital Management LLC MA purchased a new stake in Calgon Carbon Corporation during the 2nd quarter worth $18,669,000. Dimensional Fund Advisors LP boosted its position in Calgon Carbon Corporation by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,170,893 shares of the industrial products company’s stock worth $47,881,000 after purchasing an additional 315,651 shares during the period. Parametric Portfolio Associates LLC boosted its position in Calgon Carbon Corporation by 396.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 349,277 shares of the industrial products company’s stock worth $5,099,000 after purchasing an additional 278,907 shares during the period. Finally, Vanguard Group Inc. boosted its position in Calgon Carbon Corporation by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 4,621,432 shares of the industrial products company’s stock worth $67,473,000 after purchasing an additional 276,619 shares during the period. 85.19% of the stock is 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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