A number of other equities research analysts also recently issued reports on CRR. ValuEngine raised shares of Carbo Ceramics from a strong sell rating to a sell rating in a research note on Tuesday, July 25th. Piper Jaffray Companies set a $9.00 price target on shares of Carbo Ceramics and gave the stock a hold rating in a report on Thursday, July 27th. Cowen and Company dropped their target price on shares of Carbo Ceramics from $15.00 to $10.50 and set a market perform rating on the stock in a report on Wednesday, May 10th. Zacks Investment Research cut shares of Carbo Ceramics from a hold rating to a sell rating in a report on Tuesday, May 2nd. 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 report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $11.06.
Shares of Carbo Ceramics (CRR) traded down 6.67% during midday trading on Friday, reaching $6.72. 1,101,058 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $6.76 and a 200-day moving average of $9.91. The stock’s market capitalization is $182.43 million. Carbo Ceramics has a 12-month low of $5.66 and a 12-month high of $16.70.
Carbo Ceramics (NYSE:CRR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by $0.07. The business had revenue of $43.57 million for 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 business’s quarterly revenue was up 111.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.88) earnings per share. Analysts anticipate that Carbo Ceramics will post ($3.61) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the company. Creative Planning raised its stake in shares of Carbo Ceramics by 70.2% in the first quarter. Creative Planning now owns 8,488 shares of the oil and gas company’s stock worth $111,000 after buying an additional 3,502 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Carbo Ceramics by 13.9% in the first quarter. Public Employees Retirement System of Ohio now owns 9,786 shares of the oil and gas company’s stock worth $128,000 after buying an additional 1,196 shares during the period. Arizona State Retirement System increased its position in shares of Carbo Ceramics by 1.8% in the first quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock worth $144,000 after buying an additional 200 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Carbo Ceramics during the fourth quarter worth about $117,000. Finally, Thrivent Financial For Lutherans increased its stake in Carbo Ceramics by 7.4% in the first quarter. Thrivent Financial For Lutherans now owns 11,980 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 830 shares during the last quarter. Institutional investors own 84.38% 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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