CARBO Ceramics Inc. (CRR) Receives Consensus Recommendation of “Hold” from Brokerages
CARBO Ceramics Inc. (NYSE:CRR) has been given an average rating of “Hold” by the six brokerages that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.90.
CRR has been the topic of several research reports. Evercore ISI raised CARBO Ceramics from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, February 6th. Scotiabank set a $14.00 target price on CARBO Ceramics and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Zacks Investment Research cut CARBO Ceramics from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Finally, Cowen and Company lifted their target price on CARBO Ceramics from $11.00 to $15.00 and gave the stock a “market perform” rating in a report on Monday, February 6th.
CARBO Ceramics (NYSE:CRR) opened at 8.99 on Monday. CARBO Ceramics has a 12-month low of $5.66 and a 12-month high of $16.70. The stock has a 50 day moving average price of $9.20 and a 200-day moving average price of $10.48. The stock’s market capitalization is $243.98 million.
CARBO Ceramics (NYSE:CRR) last issued its earnings results on Thursday, April 27th. The oil and gas company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by $0.13. CARBO Ceramics had a negative return on equity of 7.01% and a negative net margin of 77.75%. The firm had revenue of $34.70 million during the quarter, compared to the consensus estimate of $32.22 million. During the same period last year, the firm posted ($1.07) earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that CARBO Ceramics will post ($3.24) earnings per share for the current fiscal year.
In related news, insider Gary A. Kolstad purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $6.37 per share, for a total transaction of $127,400.00. Following the completion of the transaction, the insider now owns 278,135 shares in the company, valued at approximately $1,771,719.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ernesto Bautista III purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $6.38 per share, with a total value of $31,900.00. Following the transaction, the vice president now owns 82,898 shares of the company’s stock, valued at approximately $528,889.24. The disclosure for this purchase can be found here. Insiders own 18.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its position in CARBO Ceramics by 389.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,342 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 13,796 shares in the last quarter. Bank of America Corp DE raised its position in CARBO Ceramics by 21.9% in the first quarter. Bank of America Corp DE now owns 72,955 shares of the oil and gas company’s stock valued at $951,000 after buying an additional 13,117 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in CARBO Ceramics by 15.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 300,682 shares of the oil and gas company’s stock valued at $3,921,000 after buying an additional 40,192 shares in the last quarter. KCG Holdings Inc. bought a new position in CARBO Ceramics during the first quarter valued at approximately $231,000. Finally, Dimensional Fund Advisors LP raised its position in CARBO Ceramics by 62.5% in the first quarter. Dimensional Fund Advisors LP now owns 361,011 shares of the oil and gas company’s stock valued at $4,708,000 after buying an additional 138,831 shares in the last quarter. Institutional investors own 81.28% of the company’s stock.
CARBO Ceramics Company Profile
CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.
Receive News & Ratings for CARBO Ceramics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARBO Ceramics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.