The stock of Chemtura Corp (NYSE:CHMT) reached all time high today, Sep, 30 and still has $51.29 target or 56.00% above today’s $32.88 share price. This indicates more upside for the $2.08B company. This technical setup was reported by Barchart.com. If the $51.29 PT is reached, the company will be worth $1.16 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 175,991 shares traded hands. Chemtura Corp (NYSE:CHMT) has risen 29.92% since February 26, 2016 and is uptrending. It has outperformed by 19.50% the S&P500.
Analysts await Chemtura Corp (NYSE:CHMT) to report earnings on October, 26. They expect $0.48 EPS, up 6.67% or $0.03 from last year’s $0.45 per share. CHMT’s profit will be $30.36 million for 17.13 P/E if the $0.48 EPS becomes a reality. After $0.40 actual EPS reported by Chemtura Corp for the previous quarter, Wall Street now forecasts 20.00% EPS growth.
Chemtura Corp (NYSE:CHMT) Ratings Coverage
Out of 6 analysts covering Chemtura (NYSE:CHMT), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $35 is the highest target while $34 is the lowest. The $34.50 average target is 4.93% above today’s ($32.88) stock price. Chemtura has been the topic of 8 analyst reports since October 29, 2015 according to StockzIntelligence Inc. As per Monday, September 26, the company rating was downgraded by SunTrust. The firm earned “Buy” rating on Tuesday, April 26 by BB&T Capital. Gabelli downgraded the stock to “Hold” rating in Tuesday, September 27 report. The firm earned “Overweight” rating on Tuesday, April 5 by KeyBanc Capital Markets. Seaport Global Securities upgraded Chemtura Corp (NYSE:CHMT) on Friday, October 30 to “Buy” rating. The company was downgraded on Friday, September 9 by Robert W. Baird.
According to Zacks Investment Research, “Chemtura Corporation is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products.”
Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.18, from 0.95 in 2016Q1. The ratio improved, as 21 funds sold all Chemtura Corp shares owned while 61 reduced positions. 30 funds bought stakes while 63 increased positions. They now own 56.96 million shares or 3.09% less from 58.78 million shares in 2016Q1.
Paradice Investment Management Llc holds 5.58% of its portfolio in Chemtura Corp for 1.77 million shares. Quaker Capital Investments Llc owns 492,248 shares or 5.35% of their US portfolio. Moreover, Keeley Asset Management Corp has 1.73% invested in the company for 1.58 million shares. The New York-based Wall Street Access Asset Management Llc has invested 1.36% in the stock. Southeastern Asset Management Inc Tn, a Tennessee-based fund reported 4.29 million shares.
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 3 sales for $195,424 net activity.
More notable recent Chemtura Corp (NYSE:CHMT) news were published by: Fool.com which released: “Why Chemtura Corp.’s Shares Popped 16% Today” on September 26, 2016, also Finance.Yahoo.com with their article: “WeissLaw LLP: Chemtura Corp. Acquisition May Not Be in the Best Interests of …” published on September 28, 2016, Blogs.Wsj.com published: “Stocks to Watch: Chemtura, Deutsche Bank, Array BioPharma” on September 26, 2016. More interesting news about Chemtura Corp (NYSE:CHMT) were released by: Schaeffersresearch.com and their article: “Buzz Stocks: Pfizer Inc., GW Pharmaceuticals PLC, and Chemtura Corp” published on September 26, 2016 as well as Streetinsider.com‘s news article titled: “Form DFAN14A Chemtura CORP Filed by: Lanxess Deutchland GmbH” with publication date: September 28, 2016.
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