FMSA Holdings Inc. (FMSA) Upgraded at Cowen and Company
FMSA Holdings Inc. (NYSE:FMSA) was upgraded by Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday. The firm currently has a $8.50 target price on the stock, up from their previous target price of $4.00. Cowen and Company’s price objective indicates a potential downside of 6.59% from the company’s previous close.
FMSA has been the topic of several other research reports. Royal Bank Of Canada upgraded FMSA Holdings from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $4.00 to $10.00 in a research note on Monday, May 23rd. Morgan Stanley upgraded FMSA Holdings from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note on Thursday, May 26th. Piper Jaffray Cos. upgraded FMSA Holdings from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $9.75 to $8.00 in a research note on Thursday, July 21st. Citigroup Inc. boosted their price target on FMSA Holdings from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Finally, Zacks Investment Research downgraded FMSA Holdings from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. FMSA Holdings has an average rating of “Buy” and a consensus price target of $7.18.
FMSA Holdings (NYSE:FMSA) traded up 0.44% on Tuesday, hitting $9.10. The stock had a trading volume of 2,061,335 shares. The company has a 50 day moving average price of $7.73 and a 200-day moving average price of $6.09. The company’s market cap is $1.74 billion. FMSA Holdings has a 52-week low of $1.00 and a 52-week high of $9.37.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/fmsa-holdings-inc-fmsa-upgraded-at-cowen-and-company.html
FMSA Holdings (NYSE:FMSA) last announced its earnings results on Thursday, August 4th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.41. The company earned $114.20 million during the quarter, compared to the consensus estimate of $129.35 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. FMSA Holdings’s quarterly revenue was down 48.5% compared to the same quarter last year. On average, equities research analysts predict that FMSA Holdings will post ($0.42) earnings per share for the current year.
In other news, Director Charles D. Fowler bought 1,666,666 shares of FMSA Holdings stock in a transaction on Tuesday, July 26th. The stock was acquired at an average price of $5.95 per share, with a total value of $9,916,662.70. Following the completion of the acquisition, the director now directly owns 1,705,132 shares of the company’s stock, valued at $10,145,535.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in FMSA. State Street Corp boosted its stake in FMSA Holdings by 1.3% in the first quarter. State Street Corp now owns 872,269 shares of the company’s stock valued at $2,194,000 after buying an additional 11,165 shares in the last quarter. EAM Investors LLC bought a new stake in FMSA Holdings during the second quarter valued at approximately $2,096,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in FMSA Holdings by 2.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,498,524 shares of the company’s stock valued at $19,263,000 after buying an additional 56,680 shares in the last quarter. California State Teachers Retirement System boosted its stake in FMSA Holdings by 1.9% in the second quarter. California State Teachers Retirement System now owns 138,086 shares of the company’s stock valued at $1,065,000 after buying an additional 2,546 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in FMSA Holdings by 17.3% in the second quarter. Bank of New York Mellon Corp now owns 569,467 shares of the company’s stock valued at $4,392,000 after buying an additional 83,794 shares in the last quarter. 14.36% of the stock is owned by institutional investors and hedge funds.
About FMSA Holdings
Fairmount Santrol Holdings Inc, formerly FMSA Holdings Inc, provides sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.
Receive News & Ratings for FMSA Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMSA Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.