Carbo Ceramics, Inc. (CRR) Stock Price Down 5.3%
Shares of Carbo Ceramics, Inc. (NYSE:CRR) fell 5.3% during trading on Friday . The company traded as low as $6.89 and last traded at $6.96. 736,896 shares changed hands during trading, a decline of 23% from the average session volume of 963,020 shares. The stock had previously closed at $7.35.
A number of research firms have commented on CRR. ValuEngine lowered shares of Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Carbo Ceramics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Scotiabank set a $12.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $9.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley reissued 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.06.
The company’s market capitalization is $188.94 million. The stock has a 50 day moving average price of $6.72 and a 200-day moving average price of $8.62.
Carbo Ceramics (NYSE:CRR) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.07. The firm had revenue of $43.57 million during the quarter, compared to the consensus estimate of $36.50 million. Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The company’s revenue was up 111.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.88) EPS. On average, equities research analysts anticipate that Carbo Ceramics, Inc. will post ($3.63) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRR. Teachers Advisors LLC lifted its stake in Carbo Ceramics by 41.3% in the 4th quarter. Teachers Advisors LLC now owns 47,416 shares of the oil and gas company’s stock valued at $496,000 after acquiring an additional 13,861 shares in the last quarter. Creative Planning lifted its stake in Carbo Ceramics by 70.2% in the 1st quarter. Creative Planning now owns 8,488 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 3,502 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Carbo Ceramics by 26.3% in the 1st quarter. Nationwide Fund Advisors now owns 15,592 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 3,248 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Carbo Ceramics by 4.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,017,803 shares of the oil and gas company’s stock valued at $13,272,000 after acquiring an additional 43,149 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Carbo Ceramics by 15.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,084 shares of the oil and gas company’s stock valued at $365,000 after acquiring an additional 3,724 shares in the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.
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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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