CARBO Ceramics (NYSE:CRR) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Separately, OTR Global lowered shares of CARBO Ceramics to an “underperform” rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.81.

Shares of CRR traded down $0.11 during trading hours on Monday, reaching $7.98. 382,600 shares of the company traded hands, compared to its average volume of 533,005. The firm has a market capitalization of $224.42 million, a price-to-earnings ratio of -2.12 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.16. CARBO Ceramics has a 12 month low of $6.10 and a 12 month high of $12.69.

CARBO Ceramics (NYSE:CRR) last announced its earnings results on Thursday, July 26th. The oil and gas company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The company had revenue of $58.00 million for the quarter, compared to the consensus estimate of $62.51 million. CARBO Ceramics had a negative net margin of 49.19% and a negative return on equity of 20.28%. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.93) EPS. research analysts forecast that CARBO Ceramics will post -1.97 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of CARBO Ceramics by 4.0% during the 2nd quarter. FMR LLC now owns 3,672,467 shares of the oil and gas company’s stock valued at $33,676,000 after purchasing an additional 140,400 shares in the last quarter. BlackRock Inc. boosted its stake in shares of CARBO Ceramics by 4.6% during the 2nd quarter. BlackRock Inc. now owns 2,961,569 shares of the oil and gas company’s stock valued at $27,159,000 after purchasing an additional 129,138 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of CARBO Ceramics by 35.0% during the 1st quarter. Wells Fargo & Company MN now owns 995,235 shares of the oil and gas company’s stock valued at $7,215,000 after purchasing an additional 257,779 shares in the last quarter. Old West Investment Management LLC boosted its stake in CARBO Ceramics by 169.4% during the first quarter. Old West Investment Management LLC now owns 994,879 shares of the oil and gas company’s stock worth $7,212,000 after acquiring an additional 625,634 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in CARBO Ceramics by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock worth $4,744,000 after acquiring an additional 6,944 shares in the last quarter. 81.27% of the stock is currently owned by hedge funds and other institutional investors.

CARBO Ceramics Company Profile

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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