Carbo Ceramics Inc. (NYSE:CRR)’s share price dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $13.55 and last traded at $13.82, with a volume of 256,391 shares trading hands. The stock had previously closed at $14.43.

CRR has been the subject of several research analyst reports. Canaccord Genuity reiterated a “hold” rating on shares of Carbo Ceramics in a research report on Sunday, May 8th. Howard Weil cut 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. Scotiabank restated a “sector perform” rating and set a $15.00 target price (down previously from $18.00) on shares of Carbo Ceramics in a research report on Tuesday, June 7th. Goldman Sachs Group Inc. restated a “sell” rating and set a $8.00 target price on shares of Carbo Ceramics in a research report on Wednesday, June 15th. Finally, Zacks Investment Research downgraded Carbo Ceramics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Two 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. The company presently has an average rating of “Hold” and a consensus price target of $18.57.

The stock’s 50-day moving average price is $13.60 and its 200-day moving average price is $14.65. The firm’s market capitalization is $315.81 million.

Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, July 28th. The company reported ($0.88) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.01. The business earned $20.70 million during the quarter, compared to analyst estimates of $24.70 million. During the same period in the prior year, the business posted ($0.41) EPS. The company’s revenue for the quarter was down 71.8% compared to the same quarter last year. Equities analysts predict that Carbo Ceramics Inc. will post ($3.24) EPS for the current year.

A hedge fund recently raised its stake in Carbo Ceramics stock. Schwab Charles Investment Management Inc. raised its position in shares of Carbo Ceramics Inc. (NYSE:CRR) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,779 shares of the company’s stock after buying an additional 17,649 shares during the period. Schwab Charles Investment Management Inc. owned 0.59% of Carbo Ceramics worth $2,336,000 as of its most recent filing with the SEC.

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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