Zacks Investment Research upgraded shares of CARBO Ceramics (NYSE:CRR) from a sell rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “CARBO Ceramics Inc. is an oilfield services technology company that provides industry-leading production enhancement and environmental services solutions. By integrating technologies and intellectual capital to design, build and optimize fractures, CARBO delivers complete production enhancement solutions to help oilfield service companies and E&P clients increase the production of oil and natural gas wells and achieve higher ultimate recovery rates. The Company also provides high-performance spill prevention and containment solutions that are engineered to protect the client’s entire wellsite as well as the environment. “

Several other brokerages also recently weighed in on CRR. ValuEngine raised CARBO Ceramics from a sell rating to a hold rating in a research report on Thursday, November 8th. Piper Jaffray Companies set a $9.00 target price on CARBO Ceramics and gave the company a hold rating in a research report on Tuesday, October 2nd. Finally, OTR Global cut CARBO Ceramics to an underperform rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $8.00.

NYSE CRR opened at $4.73 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.87 and a current ratio of 3.07. CARBO Ceramics has a 1 year low of $4.50 and a 1 year high of $12.69. The firm has a market capitalization of $137.79 million, a P/E ratio of -1.25 and a beta of 1.56.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.24). The company had revenue of $53.82 million for the quarter, compared to analyst estimates of $66.76 million. CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%. On average, analysts expect that CARBO Ceramics will post -2.31 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of CRR. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at about $1,850,000. Eqis Capital Management Inc. acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at about $448,000. Heartland Advisors Inc. acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at about $3,554,000. Schwab Charles Investment Management Inc. grew its position in shares of CARBO Ceramics by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock valued at $4,744,000 after acquiring an additional 6,944 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at about $304,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.

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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