Carbo Ceramics, Inc. (CRR) Given Consensus Rating of “Hold” by Analysts
Carbo Ceramics, Inc. (NYSE:CRR) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $11.58.
A number of equities research analysts have weighed in on CRR shares. 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 “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. ValuEngine cut Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 price target (down previously from $7.50) on shares of Carbo Ceramics in a research report on Wednesday, June 21st. Finally, Cowen and Company dropped their price target on Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating on the stock in a research report on Wednesday, May 10th.
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In other Carbo Ceramics news, insider Gary A. Kolstad bought 20,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were acquired at an average cost of $6.37 per share, for a total transaction of $127,400.00. Following the purchase, the insider now directly owns 278,135 shares of the company’s stock, valued at $1,771,719.95. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Ernesto Bautista III bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average price of $6.38 per share, for a total transaction of $31,900.00. Following the completion of the purchase, the vice president now directly owns 82,898 shares in the company, valued at $528,889.24. The disclosure for this purchase can be found here. 18.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CRR. Creative Planning raised its position in shares of Carbo Ceramics by 70.2% in the first quarter. Creative Planning now owns 8,488 shares of the oil and gas company’s stock worth $111,000 after buying an additional 3,502 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Carbo Ceramics during the fourth quarter worth $117,000. Public Employees Retirement System of Ohio raised its position in shares of Carbo Ceramics by 13.9% in the first quarter. Public Employees Retirement System of Ohio now owns 9,786 shares of the oil and gas company’s stock worth $128,000 after buying an additional 1,196 shares in the last quarter. Arizona State Retirement System raised its position in shares of Carbo Ceramics by 1.8% in the first quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock worth $144,000 after buying an additional 200 shares in the last quarter. Finally, AXA acquired a new position in shares of Carbo Ceramics during the first quarter worth $156,000. Institutional investors and hedge funds own 79.62% of the company’s stock.
Shares of Carbo Ceramics (NYSE:CRR) opened at 6.59 on Tuesday. The stock has a 50 day moving average price of $7.51 and a 200-day moving average price of $10.45. The company’s market capitalization is $178.85 million. Carbo Ceramics has a 52 week low of $5.66 and a 52 week high of $16.70.
Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, April 27th. The oil and gas company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.09) by $0.13. The business had revenue of $34.70 million during the quarter, compared to the consensus estimate of $32.22 million. Carbo Ceramics had a negative return on equity of 10.36% and a negative net margin of 84.01%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.07) earnings per share. Equities research analysts expect that Carbo Ceramics will post ($3.50) EPS for the current year.
About Carbo Ceramics
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.
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