Fairmount Santrol Holdings Inc. (FMSA) Cut to Sell at Zacks Investment Research
Fairmount Santrol Holdings Inc. (NYSE:FMSA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
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. “
A number of other brokerages have also recently issued reports on FMSA. BidaskClub raised Fairmount Santrol Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Wells Fargo & Company cut Fairmount Santrol Holdings from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. KeyCorp reaffirmed an “overweight” rating and set a $6.50 price objective on shares of Fairmount Santrol Holdings in a research note on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Fairmount Santrol Holdings in a research note on Thursday, July 20th. Finally, Goldman Sachs Group, Inc. (The) cut Fairmount Santrol Holdings from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $11.00 to $2.00 in a research note on Thursday, July 20th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.79.
Shares of Fairmount Santrol Holdings (NYSE:FMSA) traded down 3.04% on Monday, reaching $3.83. The company’s stock had a trading volume of 3,093,429 shares. The firm’s market cap is $858.23 million. Fairmount Santrol Holdings has a 12 month low of $2.46 and a 12 month high of $13.12. The stock has a 50 day moving average of $4.15 and a 200-day moving average of $4.03.
Fairmount Santrol Holdings (NYSE:FMSA) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Fairmount Santrol Holdings had a negative return on equity of 24.37% and a negative net margin of 6.11%. The firm had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $231.16 million. During the same period last year, the firm earned ($0.54) earnings per share. The company’s revenue for the quarter was up 104.2% compared to the same quarter last year. On average, analysts anticipate that Fairmount Santrol Holdings will post $0.27 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of FMSA. Elliott Management Corp purchased a new stake in Fairmount Santrol Holdings in the second quarter worth about $18,720,000. Goldman Sachs Group Inc. lifted its holdings in Fairmount Santrol Holdings by 317.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,584,513 shares of the industrial products company’s stock worth $33,604,000 after buying an additional 3,486,174 shares during the period. State Street Corp lifted its holdings in Fairmount Santrol Holdings by 50.9% in the second quarter. State Street Corp now owns 4,569,533 shares of the industrial products company’s stock worth $17,820,000 after buying an additional 1,540,859 shares during the period. Gotham Asset Management LLC purchased a new stake in Fairmount Santrol Holdings in the second quarter worth about $5,690,000. Finally, 1060 Capital LLC purchased a new stake in Fairmount Santrol Holdings in the second quarter worth about $3,914,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
About Fairmount Santrol Holdings
Fairmount Santrol Holdings Inc is a provider of 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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