Zacks Investment Research upgraded shares of CARBO Ceramics (NYSE:CRR) from a sell rating to a hold rating in a report released on Monday.
According to Zacks, “CARBO Ceramics Inc. is an oilfield services technology company that provides industry-leading production enhancement and environmental services solutions. By integrating technologies and intellectual capital to design, build and optimize fractures, CARBO delivers complete production enhancement solutions to help oilfield service companies and E&P clients increase the production of oil and natural gas wells and achieve higher ultimate recovery rates. The Company also provides high-performance spill prevention and containment solutions that are engineered to protect the client’s entire wellsite as well as the environment. “
A number of other analysts have also recently weighed in on the stock. OTR Global cut shares of CARBO Ceramics to an underperform rating in a research note on Tuesday, July 24th. Piper Jaffray Companies set a $9.00 price objective on shares of CARBO Ceramics and gave the stock a hold rating in a research note on Tuesday, October 2nd. Finally, ValuEngine cut shares of CARBO Ceramics from a hold rating to a sell rating in a research note on Monday, September 24th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $8.00.
Shares of CARBO Ceramics stock opened at $4.78 on Monday. The company has a quick ratio of 1.87, a current ratio of 3.07 and a debt-to-equity ratio of 0.17. CARBO Ceramics has a 1-year low of $4.50 and a 1-year high of $12.69. The firm has a market capitalization of $134.46 million, a PE ratio of -1.27 and a beta of 1.43.
CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.24). CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%. The firm had revenue of $53.82 million during the quarter, compared to analyst estimates of $66.76 million. As a group, analysts anticipate that CARBO Ceramics will post -2.22 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in CARBO Ceramics by 4.0% during the 2nd quarter. FMR LLC now owns 3,672,467 shares of the oil and gas company’s stock valued at $33,676,000 after purchasing an additional 140,400 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in CARBO Ceramics during the 2nd quarter valued at $1,850,000. Schwab Charles Investment Management Inc. raised its stake in CARBO Ceramics by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock valued at $4,744,000 after purchasing an additional 6,944 shares during the last quarter. Northern Trust Corp raised its stake in CARBO Ceramics by 3.4% during the 1st quarter. Northern Trust Corp now owns 278,858 shares of the oil and gas company’s stock valued at $2,022,000 after purchasing an additional 9,218 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in CARBO Ceramics during the 1st quarter valued at $224,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.
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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