Carbo Ceramics (CRR) Stock Rating Lowered by ValuEngine

Carbo Ceramics (NYSE:CRR) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other analysts also recently issued reports on the stock. Cowen set a $7.00 price target on shares of Carbo Ceramics and gave the company a “hold” rating in a report on Friday, April 13th. Piper Jaffray set a $7.00 price target on shares of Carbo Ceramics and gave the company a “hold” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research raised shares of Carbo Ceramics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.05.

Shares of Carbo Ceramics traded down $0.81, hitting $10.57, on Thursday, according to MarketBeat. The company’s stock had a trading volume of 1,105,803 shares, compared to its average volume of 677,224. Carbo Ceramics has a 12-month low of $11.13 and a 12-month high of $11.53. The company has a market capitalization of $297.15 million, a PE ratio of -2.80 and a beta of 1.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.54 and a quick ratio of 2.68.

Carbo Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, April 26th. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.14). Carbo Ceramics had a negative net margin of 57.60% and a negative return on equity of 20.33%. The business had revenue of $49.37 million during the quarter, compared to analysts’ expectations of $57.44 million. During the same period last year, the company earned ($1.22) EPS. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. analysts forecast that Carbo Ceramics will post -1.81 EPS for the current fiscal year.

In other news, insider Gary A. Kolstad acquired 3,000 shares of the business’s stock in a transaction dated Thursday, May 3rd. The stock was acquired at an average price of $8.89 per share, with a total value of $26,670.00. Following the completion of the transaction, the insider now directly owns 378,651 shares in the company, valued at approximately $3,366,207.39. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary A. Kolstad acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was purchased at an average cost of $8.49 per share, with a total value of $84,900.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 20,000 shares of company stock valued at $180,870. Company insiders own 15.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. A.R.T. Advisors LLC acquired a new position in shares of Carbo Ceramics in the first quarter valued at approximately $224,000. Arizona State Retirement System raised its position in shares of Carbo Ceramics by 223.7% in the fourth quarter. Arizona State Retirement System now owns 36,943 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 25,529 shares during the last quarter. Deutsche Bank AG raised its position in shares of Carbo Ceramics by 121.2% in the fourth quarter. Deutsche Bank AG now owns 51,902 shares of the oil and gas company’s stock valued at $527,000 after buying an additional 28,441 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Carbo Ceramics by 131.8% in the first quarter. BNP Paribas Arbitrage SA now owns 53,789 shares of the oil and gas company’s stock valued at $390,000 after buying an additional 30,585 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of Carbo Ceramics by 41.7% in the fourth quarter. Pinebridge Investments L.P. now owns 54,012 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 15,907 shares during the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.

About Carbo Ceramics

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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