Shares of CARBO Ceramics Inc. (NYSE:CRR) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.00.
A number of research analysts recently weighed in on the company. ValuEngine downgraded CARBO Ceramics from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Zacks Investment Research downgraded CARBO Ceramics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, Piper Jaffray Companies set a $9.00 price target on CARBO Ceramics and gave the stock a “hold” rating in a research note on Tuesday, October 2nd.
Shares of NYSE:CRR traded down $0.25 during midday trading on Friday, reaching $4.41. The company’s stock had a trading volume of 259,514 shares, compared to its average volume of 331,560. The company has a market capitalization of $129.19 million, a price-to-earnings ratio of -1.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.07 and a quick ratio of 1.87. CARBO Ceramics has a fifty-two week low of $4.50 and a fifty-two week high of $12.69.
CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.24). The business had revenue of $53.82 million during the quarter, compared to analyst estimates of $66.76 million. CARBO Ceramics had a negative net margin of 32.14% and a negative return on equity of 18.72%. Analysts anticipate that CARBO Ceramics will post -2.31 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of CARBO Ceramics by 18.4% in the third quarter. Vanguard Group Inc. now owns 1,433,430 shares of the oil and gas company’s stock worth $10,392,000 after purchasing an additional 222,706 shares during the last quarter. Morgan Stanley raised its stake in shares of CARBO Ceramics by 165.7% in the third quarter. Morgan Stanley now owns 337,635 shares of the oil and gas company’s stock worth $2,448,000 after purchasing an additional 210,576 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of CARBO Ceramics in the third quarter worth approximately $962,000. Ancora Advisors LLC raised its stake in shares of CARBO Ceramics by 17.2% in the third quarter. Ancora Advisors LLC now owns 200,534 shares of the oil and gas company’s stock worth $1,454,000 after purchasing an additional 29,444 shares during the last quarter. Finally, Bridgeway Capital Management Inc. raised its stake in shares of CARBO Ceramics by 74.6% in the third quarter. Bridgeway Capital Management Inc. now owns 93,600 shares of the oil and gas company’s stock worth $679,000 after purchasing an additional 40,000 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
About CARBO Ceramics
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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