CARBO Ceramics (CRR) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of CARBO Ceramics (NYSE:CRR) from a hold rating to a sell rating in a research note published on Tuesday.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised CARBO Ceramics from a sell rating to a hold rating in a research note on Monday, November 19th. Piper Jaffray Companies set a $9.00 price objective on CARBO Ceramics and gave the stock a hold rating in a research note on Tuesday, October 2nd. Finally, OTR Global lowered CARBO Ceramics to an underperform rating in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of Hold and an average target price of $8.00.

NYSE CRR opened at $4.66 on Tuesday. The firm has a market cap of $141.12 million, a price-to-earnings ratio of -1.24 and a beta of 1.56. The company has a current ratio of 3.07, a quick ratio of 1.87 and a debt-to-equity ratio of 0.17. 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 released its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share for the quarter, missing the Zacks’ 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%. Equities analysts anticipate that CARBO Ceramics will post -2.31 EPS for the current year.

Several institutional investors have recently made changes to their positions in CRR. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CARBO Ceramics in the 2nd quarter valued at $1,850,000. Eqis Capital Management Inc. acquired a new position in shares of CARBO Ceramics in the 2nd quarter valued at $448,000. Heartland Advisors Inc. acquired a new position in shares of CARBO Ceramics in the 2nd quarter valued at $3,554,000. Schwab Charles Investment Management Inc. lifted its stake in shares of CARBO Ceramics by 1.4% in 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 purchasing an additional 6,944 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of CARBO Ceramics in the 2nd quarter valued at $304,000. 79.18% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Moving Average – How it Helps Investors in Stock Selection

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for CARBO Ceramics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARBO Ceramics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply