Calgon Carbon (NYSE:CCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Earnings estimate of Calgon Carbon for the fourth quarter of 2017 has been going down of late. Calgon Carbon faces headwinds from higher operating and other expenses which may continue to hurt its earnings in the fourth quarter. Demand for activated carbon also remain weak in specific markets. The company is also exposed to weakness in its equipment business. Its stretched valuation is another concern.”

Shares of Calgon Carbon (NYSE:CCC) opened at $21.35 on Thursday. The firm has a market cap of $1,082.27, a price-to-earnings ratio of 49.53 and a beta of 1.07. Calgon Carbon has a twelve month low of $12.00 and a twelve month high of $22.10. The company has a current ratio of 2.80, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59.

Several large investors have recently modified their holdings of CCC. Piedmont Investment Advisors LLC acquired a new stake in shares of Calgon Carbon during the second quarter worth $166,000. Zions Bancorporation acquired a new stake in shares of Calgon Carbon during the third quarter worth $169,000. BlueCrest Capital Management Ltd raised its holdings in shares of Calgon Carbon by 9.9% during the second quarter. BlueCrest Capital Management Ltd now owns 11,671 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 1,050 shares during the period. LMR Partners LLP acquired a new stake in shares of Calgon Carbon during the third quarter worth $200,000. Finally, Aperio Group LLC acquired a new stake in shares of Calgon Carbon during the fourth quarter worth $220,000. 91.68% of the stock is currently owned by institutional investors.

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Calgon Carbon Company Profile

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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