FMSA Holdings Inc. (FMSA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of FMSA Holdings Inc. (NYSE:FMSA) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $10.00 price objective on the stock.
According to Zacks, “Fairmount Santrol Holdings Inc. provides sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. Its operating segment consists of Proppant Solutions and Industrial and Recreational Products. Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations. I&R segment provides raw, coated and custom blended sands to the foundry, building products, glass, turf and landscape and filtration industries. Fairmount Santrol Holdings Inc., formerly known as FMSA Holdings Inc., is headquartered in Chesterland, Ohio. “
A number of other research analysts also recently weighed in on the company. DA Davidson downgraded FMSA Holdings from a buy rating to an underperform rating and set a $5.00 price objective on the stock. in a research note on Monday, June 13th. Wells Fargo & Co. raised FMSA Holdings from a market perform rating to an outperform rating in a research note on Monday, July 18th. Citigroup Inc. set a $9.50 price objective on FMSA Holdings and gave the company a buy rating in a research note on Monday, September 12th. Barclays PLC initiated coverage on FMSA Holdings in a research note on Wednesday, August 10th. They issued an equal weight rating and a $9.00 price objective on the stock. Finally, Jefferies Group reissued a hold rating and issued a $8.00 price objective (up from $4.00) on shares of FMSA Holdings in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. FMSA Holdings has an average rating of Buy and an average target price of $7.18.
Shares of FMSA Holdings (NYSE:FMSA) opened at 9.74 on Wednesday. FMSA Holdings has a 52-week low of $1.00 and a 52-week high of $9.74. The company’s 50 day moving average price is $7.78 and its 200 day moving average price is $6.19. The firm’s market capitalization is $1.86 billion.
FMSA Holdings (NYSE:FMSA) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.41. The company earned $114.20 million during the quarter, compared to analyst estimates of $129.35 million. During the same quarter last year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was down 48.5% compared to the same quarter last year. Analysts forecast that FMSA Holdings will post ($0.42) earnings per share for the current year.
In other news, Director Charles D. Fowler acquired 1,666,666 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were bought at an average price of $5.95 per share, with a total value of $9,916,662.70. Following the acquisition, the director now owns 1,705,132 shares of the company’s stock, valued at $10,145,535.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Viking Fund Management LLC purchased a new stake in shares of FMSA Holdings during the second quarter valued at $5,551,000. EAM Investors LLC purchased a new stake in shares of FMSA Holdings during the second quarter valued at $2,096,000. Systematic Financial Management LP purchased a new stake in shares of FMSA Holdings during the second quarter valued at $1,498,000. Parametric Portfolio Associates LLC raised its stake in shares of FMSA Holdings by 51.8% in the second quarter. Parametric Portfolio Associates LLC now owns 454,708 shares of the company’s stock valued at $3,506,000 after buying an additional 155,068 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of FMSA Holdings during the second quarter valued at $1,154,000. 14.36% of the stock is currently owned by institutional investors.
About FMSA Holdings
Fairmount Santrol Holdings Inc, formerly FMSA Holdings Inc, provides sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.
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