Carbo Ceramics Inc. (CRR) Given Consensus Recommendation of “Hold” by Brokerages
Carbo Ceramics Inc. (NYSE:CRR) has been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the company. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.14.
Separately, Zacks Investment Research raised Carbo Ceramics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, September 27th.
A number of institutional investors have recently bought and sold shares of CRR. Paradigm Asset Management Co. LLC raised its position in Carbo Ceramics by 49.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 9,400 shares of the company’s stock valued at $123,000 after buying an additional 3,100 shares during the last quarter. Arizona State Retirement System raised its position in Carbo Ceramics by 1.0% in the second quarter. Arizona State Retirement System now owns 10,214 shares of the company’s stock valued at $134,000 after buying an additional 100 shares during the last quarter. Royal Bank of Canada raised its position in Carbo Ceramics by 68.1% in the first quarter. Royal Bank of Canada now owns 9,873 shares of the company’s stock valued at $140,000 after buying an additional 4,001 shares during the last quarter. US Bancorp DE raised its position in Carbo Ceramics by 2.1% in the second quarter. US Bancorp DE now owns 11,248 shares of the company’s stock valued at $148,000 after buying an additional 235 shares during the last quarter. Finally, Airain ltd purchased a new position in Carbo Ceramics during the second quarter valued at about $172,000. 92.20% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Carbo Ceramics (NYSE:CRR) traded up 1.61% during midday trading on Tuesday, reaching $10.71. The company had a trading volume of 419,731 shares. Carbo Ceramics has a 52 week low of $9.48 and a 52 week high of $24.20. The company’s 50 day moving average price is $11.50 and its 200-day moving average price is $13.01. The company’s market capitalization is $251.66 million.
Carbo Ceramics (NYSE:CRR) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.88) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.01. The company had revenue of $20.70 million for the quarter, compared to analyst estimates of $24.70 million. Carbo Ceramics had a negative return on equity of 7.16% and a negative net margin of 58.46%. The firm’s revenue for the quarter was down 71.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share. On average, equities research analysts predict that Carbo Ceramics will post ($3.24) earnings per share for the current fiscal year.
About Carbo Ceramics
Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
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