Carbo Ceramics, Inc. (NYSE:CRR) Receives $11.58 Average Target Price from Analysts
Shares of Carbo Ceramics, Inc. (NYSE:CRR) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.58.
CRR has been the topic of a number of recent research reports. Scotiabank set a $14.00 price target on shares of Carbo Ceramics and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Zacks Investment Research downgraded shares of Carbo Ceramics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Cowen and Company reduced their price target on shares of Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating on the stock in a research report on Wednesday, May 10th. ValuEngine downgraded shares of Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Finally, Morgan Stanley restated an “underweight” rating and issued a $5.00 price target (down from $7.50) on shares of Carbo Ceramics in a research report on Wednesday, June 21st.
Shares of Carbo Ceramics (NYSE:CRR) traded up 0.14% during midday trading on Tuesday, hitting $7.08. 611,486 shares of the stock were exchanged. The company’s market cap is $192.14 million. Carbo Ceramics has a 12-month low of $5.66 and a 12-month high of $16.70. The firm has a 50-day moving average price of $7.51 and a 200-day moving average price of $10.45.
Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by $0.13. Carbo Ceramics had a negative return on equity of 10.36% and a negative net margin of 84.01%. The business had revenue of $34.70 million during the quarter, compared to the consensus estimate of $32.22 million. During the same quarter in the previous year, the business posted ($1.07) earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts predict that Carbo Ceramics will post ($3.50) EPS for the current year.
In other news, VP Ernesto Bautista III acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $6.38 per share, for a total transaction of $31,900.00. Following the transaction, the vice president now directly owns 82,898 shares in the company, valued at approximately $528,889.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary A. Kolstad acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $6.37 per share, for a total transaction of $127,400.00. Following the completion of the transaction, the insider now owns 278,135 shares in the company, valued at $1,771,719.95. The disclosure for this purchase can be found here. Company insiders own 18.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of CRR. Comerica Bank increased its stake in shares of Carbo Ceramics by 20.1% in the fourth quarter. Comerica Bank now owns 22,216 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 3,711 shares in the last quarter. State Street Corp increased its stake in shares of Carbo Ceramics by 20.3% in the fourth quarter. State Street Corp now owns 439,389 shares of the oil and gas company’s stock valued at $4,594,000 after buying an additional 74,120 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Carbo Ceramics by 56.1% in the fourth quarter. Two Sigma Investments LP now owns 28,808 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 10,352 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Carbo Ceramics by 1,121.5% in the fourth quarter. AQR Capital Management LLC now owns 137,482 shares of the oil and gas company’s stock valued at $1,438,000 after buying an additional 126,227 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Carbo Ceramics during the fourth quarter valued at $117,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.
About Carbo Ceramics
CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.
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