CARBO Ceramics (CRR) Downgraded by ValuEngine

CARBO Ceramics (NYSE:CRR) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Separately, OTR Global lowered shares of CARBO Ceramics to an “underperform” rating in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. CARBO Ceramics has an average rating of “Hold” and an average price target of $8.81.

NYSE CRR opened at $8.15 on Monday. CARBO Ceramics has a 1 year low of $6.10 and a 1 year high of $12.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.82 and a quick ratio of 1.60. The firm has a market capitalization of $224.42 million, a PE ratio of -2.16 and a beta of 1.51.

CARBO Ceramics (NYSE:CRR) last posted its earnings results on Thursday, July 26th. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.02). CARBO Ceramics had a negative return on equity of 20.28% and a negative net margin of 49.19%. The firm had revenue of $58.00 million during the quarter, compared to the consensus estimate of $62.51 million. During the same quarter in the previous year, the company earned ($0.93) EPS. The business’s revenue was up 33.0% compared to the same quarter last year. analysts forecast that CARBO Ceramics will post -1.97 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new position in CARBO Ceramics during the second quarter valued at about $1,850,000. Brown Advisory Inc. grew its position in CARBO Ceramics by 38.7% during the first quarter. Brown Advisory Inc. now owns 21,176 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 5,910 shares during the period. Bank of America Corp DE grew its position in CARBO Ceramics by 66.3% during the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 9,780 shares during the period. Essex Investment Management Co. LLC bought a new position in CARBO Ceramics during the second quarter valued at about $232,000. Finally, A.R.T. Advisors LLC bought a new position in CARBO Ceramics during the first quarter valued at about $224,000. Hedge funds and other institutional investors own 81.27% 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.

Recommended Story: Dividend Aristocrat Index

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