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Oppenheimer Begins Coverage on Calgon Carbon Co. (CCC)

wkrb13.com    6/7/2016 9:37:00 AM    ReadCount:620

Oppenheimer began coverage on shares of Calgon Carbon Co. (NYSE:CCC) in a research report report published on Wednesday morning. The firm issued an outperform rating on the stock.
 
A number of hedge funds have made changes to their positions in CCC. Squarepoint Ops LLC acquired a new stake in shares of Calgon Carbon during the first quarter worth approximately $150,000. Royal Bank of Canada raised its position in shares of Calgon Carbon by 717.9% in the first quarter. Royal Bank of Canada now owns 11,729 shares of the company’s stock valued at $164,000 after buying an additional 10,295 shares during the period. Menta Capital LLC bought a new position in shares of Calgon Carbon during the first quarter valued at approximately $182,000. Commonwealth Equity Services raised its position in shares of Calgon Carbon by 8.2% in the fourth quarter. Commonwealth Equity Services now owns 15,174 shares of the company’s stock valued at $262,000 after buying an additional 1,146 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Calgon Carbon by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 21,491 shares of the company’s stock valued at $301,000 after buying an additional 1,946 shares during the period. 
 
A number of other brokerages have also recently issued reports on CCC. Bank of America reaffirmed an underperform rating and set a $8.00 target price (down previously from $10.00) on shares of Calgon Carbon in a report on Saturday, February 6th. Robert W. Baird restated a hold rating on shares of Calgon Carbon in a research report on Friday, April 15th. Janney Montgomery Scott started coverage on Calgon Carbon in a research note on Tuesday, May 10th. They set a buy rating and a $20.00 price objective on the stock. BB&T Corp. downgraded Calgon Carbon from a buy rating to a hold rating in a report on Monday, February 22nd. Finally, Roth Capital reissued a neutral rating and issued a $17.00 target price (down previously from $22.00) on shares of Calgon Carbon in a research note on Thursday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $16.00.
 
Shares of Calgon Carbon (NYSE:CCC) opened at 15.50 on Wednesday. The firm has a market capitalization of $784.11 million and a price-to-earnings ratio of 21.47. The company has a 50-day moving average price of $15.33 and a 200 day moving average price of $15.46. Calgon Carbon has a 12-month low of $13.29 and a 12-month high of $21.39. 
 
Calgon Carbon (NYSE:CCC) last issued its earnings results on Thursday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The business earned $120.20 million during the quarter, compared to analyst estimates of $126.07 million. During the same period in the prior year, the company posted $0.21 earnings per share. Calgon Carbon’s quarterly revenue was down 11.4% compared to the same quarter last year. Equities research analysts expect that Calgon Carbon will post $0.71 earnings per share for the current fiscal year. 
 
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, June 6th will be given a $0.05 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.29%. 
 
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment (BWT), ultraviolet (UV) light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions.