Guggenheim Downgrades CARBO Ceramics to Neutral (CRR)
CARBO Ceramics (NYSE:CRR) was downgraded by equities researchers at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on CRR. Analysts at Barclays raised their price target on shares of CARBO Ceramics from $109.00 to $118.00 in a research note to investors on Tuesday, December 17th. They now have an “equal weight” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of CARBO Ceramics from $132.00 to $123.00 in a research note to investors on Monday, December 16th. They now have a “market perform” rating on the stock. Finally, analysts at DA Davidson raised their price target on shares of CARBO Ceramics from $102.00 to $125.00 in a research note to investors on Friday, November 1st. They now have a “neutral” rating on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $105.59.
CARBO Ceramics (NYSE:CRR) traded down 2.41% on Monday, hitting $112.10. The stock had a trading volume of 58,347 shares. CARBO Ceramics has a one year low of $62.11 and a one year high of $132.55. The stock’s 50-day moving average is $119.0 and its 200-day moving average is $97.55. The company has a market cap of $2.587 billion and a price-to-earnings ratio of 31.64.
CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.49. The company had revenue of $201.50 million for the quarter, compared to the consensus estimate of $160.41 million. During the same quarter last year, the company posted $1.04 earnings per share. CARBO Ceramics’s revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that CARBO Ceramics will post $3.61 earnings per share for the current fiscal year.
CARBO Ceramics Inc is the supplier of ceramic proppant and the resin-coated sand. The Company is the provider of the fracture simulation software, and a provider of fracture design and consulting services, and a range of technologies for spill prevention, containment and countermeasures.
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