CARBO Ceramics (CRR) Upgraded at ValuEngine

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

Separately, Zacks Investment Research downgraded CARBO Ceramics from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. CARBO Ceramics currently has an average rating of “Hold” and a consensus target price of $8.00.

Shares of CRR stock traded down $0.07 on Friday, reaching $3.85. 1,176,751 shares of the company’s stock traded hands, compared to its average volume of 305,487. CARBO Ceramics has a 12-month low of $2.84 and a 12-month high of $11.86. The company has a current ratio of 2.25, a quick ratio of 1.77 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $110.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.79.

CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, January 31st. The oil and gas company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). CARBO Ceramics had a negative net margin of 35.34% and a negative return on equity of 19.90%. The business had revenue of $49.57 million for the quarter. On average, sell-side analysts predict that CARBO Ceramics will post -1.59 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRR. Vanguard Group Inc boosted its position in CARBO Ceramics by 18.4% during the third quarter. Vanguard Group Inc now owns 1,433,430 shares of the oil and gas company’s stock valued at $10,392,000 after purchasing an additional 222,706 shares during the last quarter. Vanguard Group Inc. boosted its position in CARBO Ceramics by 18.4% during the third quarter. Vanguard Group Inc. now owns 1,433,430 shares of the oil and gas company’s stock valued at $10,392,000 after purchasing an additional 222,706 shares during the last quarter. Morgan Stanley boosted its position in CARBO Ceramics by 165.7% during the third quarter. Morgan Stanley now owns 337,635 shares of the oil and gas company’s stock valued at $2,448,000 after purchasing an additional 210,576 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in CARBO Ceramics by 22.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 927,349 shares of the oil and gas company’s stock valued at $3,227,000 after purchasing an additional 171,974 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in CARBO Ceramics during the third quarter valued at $962,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

About CARBO Ceramics

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.

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