Carbo Ceramics Inc. (CRR) Shares Up 5.8%
Carbo Ceramics Inc. (NYSE:CRR)’s share price shot up 5.8% during mid-day trading on Wednesday . The stock traded as high as $14.09 and last traded at $14.09, with a volume of 225,756 shares changing hands. The stock had previously closed at $13.32.
Several brokerages recently issued reports on CRR. Canaccord Genuity reissued a “hold” rating on shares of Carbo Ceramics in a research note on Sunday, May 8th. Scotiabank reissued a “sector perform” rating and set a $15.00 price objective (down previously from $18.00) on shares of Carbo Ceramics in a research note on Tuesday, June 7th. Zacks Investment Research downgraded shares of Carbo Ceramics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Howard Weil reduced their price objective on shares of 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. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and set a $8.00 price objective on shares of Carbo Ceramics in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.57.
The company’s 50-day moving average price is $13.21 and its 200 day moving average price is $14.86. The firm’s market cap is $325.21 million.
Carbo Ceramics (NYSE:CRR) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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. The business’s revenue for the quarter was down 71.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. On average, analysts forecast that Carbo Ceramics Inc. will post ($3.32) earnings per share for the current year.
A hedge fund recently bought a new stake in Carbo Ceramics stock. Schroder Investment Management Group acquired a new position in shares of Carbo Ceramics Inc. (NYSE:CRR) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 133,000 shares of the company’s stock, valued at approximately $2,288,000. Schroder Investment Management Group owned about 0.58% of Carbo Ceramics as of its most recent SEC filing.
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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