Carbo Ceramics, Inc. (NYSE:CRR) Given Consensus Rating of “Hold” by Analysts
Carbo Ceramics, Inc. (NYSE:CRR) has received an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.93.
Several equities analysts have recently issued reports on CRR shares. Morgan Stanley reiterated an “underweight” rating and set a $5.00 price objective (down from $7.50) on shares of Carbo Ceramics in a research report on Wednesday, June 21st. Zacks Investment Research downgraded Carbo Ceramics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. ValuEngine downgraded Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Cowen and Company reduced their price objective on Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating for the company in a research report on Wednesday, May 10th. Finally, Scotiabank set a $12.00 target price on Carbo Ceramics and gave the stock a “hold” rating in a report on Friday, July 28th.
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Shares of Carbo Ceramics (CRR) opened at 7.51 on Friday. The firm’s 50-day moving average price is $6.76 and its 200 day moving average price is $9.91. Carbo Ceramics has a 1-year low of $5.66 and a 1-year high of $16.70. The stock’s market capitalization is $203.87 million.
Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.07. Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The company had revenue of $43.57 million during the quarter, compared to analyst estimates of $36.50 million. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. The business’s revenue was up 111.0% on a year-over-year basis. Analysts expect that Carbo Ceramics will post ($3.61) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of CRR. Texas Permanent School Fund boosted its position in Carbo Ceramics by 0.8% in the second quarter. Texas Permanent School Fund now owns 15,456 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 128 shares in the last quarter. Creative Planning boosted its position in Carbo Ceramics by 70.2% in the first quarter. Creative Planning now owns 8,488 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 3,502 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Carbo Ceramics during the fourth quarter valued at about $117,000. Public Employees Retirement System of Ohio boosted its position in 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 valued at $128,000 after buying an additional 1,196 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in 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 valued at $144,000 after buying an additional 200 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors.
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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