Carbo Ceramics Inc. (CRR) Trading 5.6% Higher
Carbo Ceramics Inc. (NYSE:CRR)’s share price shot up 5.6% during trading on Thursday . The company traded as high as $13.81 and last traded at $13.29, with a volume of 277,300 shares trading hands. The stock had previously closed at $12.59.
Several brokerages have recently issued reports on CRR. Goldman Sachs Group Inc. reiterated a “sell” rating and set a $8.00 price objective on shares of Carbo Ceramics in a research report on Wednesday, June 15th. Zacks Investment Research upgraded Carbo Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Canaccord Genuity reiterated a “hold” rating on shares of Carbo Ceramics in a research report on Sunday, May 8th. Scotiabank reiterated a “sector perform” rating and set a $15.00 price objective (down from $18.00) on shares of Carbo Ceramics in a research report on Tuesday, June 7th. Finally, Howard Weil reduced their price objective on Carbo Ceramics from $18.00 to $15.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Carbo Ceramics has an average rating of “Hold” and an average target price of $18.57.
The company’s market cap is $313.00 million. The stock’s 50-day moving average is $12.93 and its 200-day moving average is $15.36.
Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by $0.17. The company had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $38.86 million. The firm’s quarterly revenue was down 55.1% on a year-over-year basis. During the same period in the previous year, the business earned ($1.24) earnings per share. Equities analysts forecast that Carbo Ceramics Inc. will post ($3.24) EPS for the current fiscal year.
A number of hedge funds and institutional investors have bought and sold shares of CRR. Schroder Investment Management Group acquired a new position in Carbo Ceramics during the fourth quarter valued at about $2,288,000. California Public Employees Retirement System raised its stake in Carbo Ceramics by 15.1% in the fourth quarter. California Public Employees Retirement System now owns 152,800 shares of the company’s stock valued at $2,628,000 after buying an additional 20,100 shares during the last quarter. Finally, Heartland Advisors Inc. raised its stake in Carbo Ceramics by 16.1% in the fourth quarter. Heartland Advisors Inc. now owns 1,221,124 shares of the company’s stock valued at $21,003,000 after buying an additional 169,528 shares during the last quarter.
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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