Shares of Carbo Ceramics Inc. (NYSE:CRR) dropped 11.7% during mid-day trading on Tuesday . The company traded as low as $12.60 and last traded at $12.66, with a volume of 369,201 shares trading hands. The stock had previously closed at $14.33.

CRR has been the topic of a number of research reports. Zacks Investment Research upgraded Carbo Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $8.00 price target on shares of Carbo Ceramics in a research note on Wednesday, June 15th. Howard Weil decreased their price target on Carbo Ceramics from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 7th. Scotiabank reaffirmed a “sector perform” rating and issued a $15.00 price target (down previously from $18.00) on shares of Carbo Ceramics in a research note on Tuesday, June 7th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Carbo Ceramics in a research note on Sunday, May 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Carbo Ceramics currently has an average rating of “Hold” and an average price target of $18.57.

The firm has a 50 day moving average price of $12.83 and a 200-day moving average price of $15.40. The stock’s market capitalization is $295.40 million.

Carbo Ceramics (NYSE:CRR) last announced its earnings results on Thursday, April 28th. The company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.90) by $0.17. The firm earned $33.10 million during the quarter, compared to the consensus estimate of $38.86 million. The company’s revenue for the quarter was down 55.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.24) EPS. Analysts forecast that Carbo Ceramics Inc. will post ($3.24) EPS for the current year.

Other institutional investors have recently made changes to their positions in the company. Heartland Advisors Inc. raised its position in shares of Carbo Ceramics by 16.1% in the fourth quarter. Heartland Advisors Inc. now owns 1,221,124 shares of the company’s stock worth $21,003,000 after buying an additional 169,528 shares during the period. Principal Financial Group Inc. raised its position in shares of Carbo Ceramics by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 128,745 shares of the company’s stock worth $2,214,000 after buying an additional 5,625 shares during the period. Schroder Investment Management Group purchased a new position in shares of Carbo Ceramics during the fourth quarter worth $2,288,000. Finally, California Public Employees Retirement System raised its position in shares of Carbo Ceramics by 15.1% in the fourth quarter. California Public Employees Retirement System now owns 152,800 shares of the company’s stock worth $2,628,000 after buying an additional 20,100 shares during the period.

Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.

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