Zacks downgraded shares of Chemtura Corp. (NASDAQ:CHMT) from a neutral rating to an underperform rating in a research note released on Thursday morning, Analyst Ratings Network reports. They currently have $23.00 target price on the stock.
Zacks has also taken action a number of other materials stocks recently. The firm reiterated its neutral rating on shares of PPG Industries Inc.. They have a $183.00 price target on that stock. Also, Zacks upgraded shares of Albemarle Corp. from an underperform rating to a neutral rating. Zacks now has a $65.40 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of Ecolab Inc.. They have a $105.00 price target on that stock.
Shares of Chemtura Corp. (NASDAQ:CHMT) traded down 0.97% on Thursday, hitting $24.47. The stock had a trading volume of 79,153 shares. Chemtura Corp. has a 52-week low of $14.85 and a 52-week high of $24.72. The stock’s 50-day moving average is $23.39 and its 200-day moving average is $22.28. The company’s market cap is $2.413 billion.
Chemtura Corp. (NASDAQ:CHMT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.04. The company had revenue of $735.00 million for the quarter, compared to the consensus estimate of $734.90 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that Chemtura Corp. will post $0.85 EPS for the current fiscal year.
Chemtura Corporation (NASDAQ:CHMT) is a diversified global developer, manufacturer and marketer of performance-driven engineered specialty chemicals.
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