Shares of Carbo Ceramics Inc. (NYSE:CRR) dropped 2.8% during mid-day trading on Monday . The company traded as low as $12.97 and last traded at $12.97, with a volume of 161,714 shares. The stock had previously closed at $13.34.

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

The stock’s market capitalization is $323.79 million. The company’s 50-day moving average price is $13.09 and its 200 day moving average price is $15.28.

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

Several institutional investors recently added to or reduced their stakes in CRR. California Public Employees Retirement System boosted its position 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 worth $2,628,000 after buying an additional 20,100 shares during the period. Schroder Investment Management Group bought a new position in Carbo Ceramics during the fourth quarter worth $2,288,000. Finally, Heartland Advisors Inc. boosted its position in 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.

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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