Johnson Rice Initiates Coverage on FMSA Holdings Inc. (FMSA)
Research analysts at Johnson Rice initiated coverage on shares of FMSA Holdings Inc. (NYSE:FMSA) in a research note issued on Monday. The brokerage set an “accumulate” rating on the stock.
FMSA has been the subject of several other research reports. Zacks Investment Research cut FMSA Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Cowen and Company raised FMSA Holdings from a “market perform” rating to an “outperform” rating and raised their target price for the company from $4.00 to $8.50 in a research note on Tuesday, July 26th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $7.00 target price on shares of FMSA Holdings in a research note on Tuesday, September 20th. Wells Fargo & Co. raised FMSA Holdings from a “market perform” rating to an “outperform” rating in a research note on Monday, July 18th. Finally, Citigroup Inc. began coverage on FMSA Holdings in a research note on Thursday, July 7th. They set a “buy” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.18.
FMSA Holdings (NYSE:FMSA) traded up 5.38% during mid-day trading on Monday, reaching $9.59. The company’s stock had a trading volume of 727,839 shares. The firm’s market capitalization is $1.84 billion. FMSA Holdings has a 1-year low of $1.00 and a 1-year high of $9.69. The firm has a 50-day moving average of $7.73 and a 200 day moving average of $6.09.
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FMSA Holdings (NYSE:FMSA) last released its quarterly 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 firm earned $114.20 million during the quarter, compared to the consensus estimate of $129.35 million. During the same period last year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was down 48.5% on a year-over-year basis. Equities analysts expect that FMSA Holdings will post ($0.42) earnings per share for the current year.
In other news, Director Charles D. Fowler purchased 1,666,666 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average cost of $5.95 per share, with a total value of $9,916,662.70. Following the purchase, the director now directly owns 1,705,132 shares of the company’s stock, valued at $10,145,535.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 16.20% of the company’s stock.
Several large investors have recently bought and sold shares of FMSA. Viking Fund Management LLC purchased a new stake in FMSA Holdings during the second quarter worth $5,551,000. EAM Investors LLC bought a new position in shares of FMSA Holdings during the second quarter worth approximately $2,096,000. Systematic Financial Management LP bought a new position in shares of FMSA Holdings during the second quarter worth approximately $1,498,000. Parametric Portfolio Associates LLC raised its position in shares of FMSA Holdings by 51.8% in the second quarter. Parametric Portfolio Associates LLC now owns 454,708 shares of the company’s stock worth $3,506,000 after buying an additional 155,068 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of FMSA Holdings during the second quarter worth approximately $1,154,000. 14.36% of the stock is owned by institutional investors.
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.
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