Cowen Reiterates $7.00 Price Target for Carbo Ceramics (CRR)

Cowen set a $7.00 price objective on Carbo Ceramics (NYSE:CRR) in a research note released on Friday. The firm currently has a hold rating on the oil and gas company’s stock.

A number of other analysts have also commented on the company. Piper Jaffray set a $7.00 price target on Carbo Ceramics and gave the stock a hold rating in a report on Monday, April 2nd. Zacks Investment Research upgraded 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 given a hold rating to the company. Carbo Ceramics currently has a consensus rating of Hold and a consensus target price of $8.05.

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Shares of Carbo Ceramics stock opened at $8.37 on Friday. The firm has a market cap of $221.71, a P/E ratio of -2.22 and a beta of 1.67. Carbo Ceramics has a 12 month low of $5.83 and a 12 month high of $12.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.75 and a current ratio of 4.61.

Carbo Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.02). The business had revenue of $60.34 million for the quarter, compared to the consensus estimate of $56.87 million. Carbo Ceramics had a negative return on equity of 20.27% and a negative net margin of 67.47%. The business’s revenue was up 107.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. research analysts anticipate that Carbo Ceramics will post -1.76 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Carbo Ceramics by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,810,505 shares of the oil and gas company’s stock worth $28,611,000 after acquiring an additional 33,462 shares during the period. Wells Fargo & Company MN increased its position in Carbo Ceramics by 70.0% in the third quarter. Wells Fargo & Company MN now owns 879,216 shares of the oil and gas company’s stock worth $7,588,000 after buying an additional 362,028 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Carbo Ceramics by 37.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 483,019 shares of the oil and gas company’s stock worth $4,169,000 after buying an additional 131,139 shares during the last quarter. Tieton Capital Management LLC increased its position in Carbo Ceramics by 63.1% in the fourth quarter. Tieton Capital Management LLC now owns 326,026 shares of the oil and gas company’s stock worth $3,319,000 after buying an additional 126,160 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Carbo Ceramics by 127.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 304,353 shares of the oil and gas company’s stock worth $2,627,000 after buying an additional 170,289 shares during the last quarter. Institutional investors and hedge funds own 70.17% of the company’s stock.

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Carbo Ceramics Company Profile

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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