FMSA Holdings Inc. (FMSA) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of FMSA Holdings Inc. (NYSE:FMSA) from a hold rating to a buy rating in a report published on Wednesday. The brokerage currently has $10.00 price objective on the stock.
According to Zacks, “Fairmount Santrol Holdings Inc. provides sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. Its operating segment consists of Proppant Solutions and Industrial and Recreational Products. Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations. I&R segment provides raw, coated and custom blended sands to the foundry, building products, glass, turf and landscape and filtration industries. Fairmount Santrol Holdings Inc., formerly known as FMSA Holdings Inc., is headquartered in Chesterland, Ohio. “
Other equities analysts also recently issued research reports about the company. Citigroup Inc. set a $9.50 target price on FMSA Holdings and gave the stock a buy rating in a research note on Monday, September 12th. Simmons upgraded FMSA Holdings to a buy rating and set a $8.00 target price on the stock in a research note on Thursday, July 21st. Barclays PLC initiated coverage on FMSA Holdings in a research note on Wednesday, August 10th. They issued an equal weight rating and a $9.00 target price on the stock. Credit Suisse Group AG restated a hold rating and issued a $7.00 target price on shares of FMSA Holdings in a research note on Tuesday, September 20th. Finally, Jefferies Group restated a hold rating and issued a $8.00 target price (up previously from $4.00) on shares of FMSA Holdings in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $7.18.
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Shares of FMSA Holdings (NYSE:FMSA) opened at 9.74 on Wednesday. The company’s 50-day moving average price is $7.78 and its 200-day moving average price is $6.19. FMSA Holdings has a 12 month low of $1.00 and a 12 month high of $9.74. The firm’s market cap is $1.86 billion.
FMSA Holdings (NYSE:FMSA) last announced its earnings results on Thursday, August 4th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.41. The firm earned $114.20 million during the quarter, compared to analysts’ expectations of $129.35 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The firm’s revenue was down 48.5% on a year-over-year basis. On average, analysts predict that FMSA Holdings will post ($0.42) EPS for the current year.
In other news, Director Charles D. Fowler purchased 1,666,666 shares of FMSA Holdings stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $9,916,662.70. Following the transaction, 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 document filed with the SEC, which is available at the SEC website. Insiders own 16.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMSA. Metropolitan Life Insurance Co. NY purchased a new position in FMSA Holdings during the second quarter worth approximately $434,000. Panagora Asset Management Inc. raised its position in FMSA Holdings by 17.1% in the second quarter. Panagora Asset Management Inc. now owns 118,265 shares of the company’s stock worth $912,000 after buying an additional 17,232 shares during the period. Parametric Portfolio Associates LLC raised its position in 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 during the period. State Street Corp raised its position in FMSA Holdings by 9.0% in the second quarter. State Street Corp now owns 950,827 shares of the company’s stock worth $7,335,000 after buying an additional 78,558 shares during the period. Finally, Systematic Financial Management LP purchased a new position in FMSA Holdings during the second quarter worth approximately $1,498,000. Hedge funds and other institutional investors own 14.36% of the company’s stock.
FMSA Holdings Company Profile
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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