CARBO Ceramics (NYSE:CRR) Stock Rating Upgraded by ValuEngine

CARBO Ceramics (NYSE:CRR) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

CRR has been the topic of several other research reports. Piper Jaffray Companies set a $1.00 price target on CARBO Ceramics and gave the stock a “hold” rating in a report on Friday, July 26th. Zacks Investment Research raised CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Tuesday.

Shares of NYSE CRR traded down $0.04 during mid-day trading on Thursday, hitting $1.41. The company had a trading volume of 582,878 shares, compared to its average volume of 390,646. The firm has a market cap of $37.60 million, a PE ratio of -0.53 and a beta of 1.81. CARBO Ceramics has a 12 month low of $0.83 and a 12 month high of $9.37. The company has a current ratio of 3.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $1.20.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). The company had revenue of $43.10 million during the quarter, compared to the consensus estimate of $51.85 million. CARBO Ceramics had a negative return on equity of 21.61% and a negative net margin of 37.95%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period last year, the business posted ($0.55) EPS. Equities analysts anticipate that CARBO Ceramics will post -2.11 earnings per share for the current year.

In other CARBO Ceramics news, CEO Gary A. Kolstad bought 32,350 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $1.03 per share, for a total transaction of $33,320.50. Following the transaction, the chief executive officer now directly owns 495,000 shares in the company, valued at $509,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ernesto Bautista III bought 30,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the chief financial officer now owns 156,240 shares in the company, valued at $234,360. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 137,350 shares of company stock worth $176,571. 15.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Investors Research Corp acquired a new stake in CARBO Ceramics in the 1st quarter valued at approximately $31,000. SG Americas Securities LLC acquired a new stake in CARBO Ceramics in the 2nd quarter valued at approximately $66,000. Algert Global LLC acquired a new stake in CARBO Ceramics in the 1st quarter valued at approximately $74,000. Connor Clark & Lunn Investment Management Ltd. increased its position in CARBO Ceramics by 22.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,050 shares of the oil and gas company’s stock valued at $84,000 after acquiring an additional 4,450 shares during the period. Finally, Bank of America Corp DE increased its position in CARBO Ceramics by 71.6% in the 4th quarter. Bank of America Corp DE now owns 32,290 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 13,471 shares during the period. Hedge funds and other institutional investors own 71.88% of the company’s stock.

CARBO Ceramics Company Profile

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.

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