CARBO Ceramics Inc. (CRR) Receives Average Recommendation of “Sell” from Analysts

Shares of CARBO Ceramics Inc. (NYSE:CRR) have been given a consensus recommendation of “Sell” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.00.

A number of research analysts have recently commented on CRR shares. Zacks Investment Research cut shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Finally, 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 Tuesday, October 2nd.

In related news, insider Gary A. Kolstad purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were purchased at an average cost of $4.77 per share, for a total transaction of $47,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in CARBO Ceramics by 66.3% during the 2nd quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 9,780 shares in the last quarter. Bridgeway Capital Management Inc. grew its holdings in CARBO Ceramics by 74.6% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 93,600 shares of the oil and gas company’s stock worth $679,000 after acquiring an additional 40,000 shares in the last quarter. Renaissance Technologies LLC bought a new position in CARBO Ceramics during the 3rd quarter worth about $962,000. Ancora Advisors LLC grew its holdings in CARBO Ceramics by 17.2% during the 3rd quarter. Ancora Advisors LLC now owns 200,534 shares of the oil and gas company’s stock worth $1,454,000 after acquiring an additional 29,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in CARBO Ceramics by 4.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 250,577 shares of the oil and gas company’s stock worth $1,817,000 after acquiring an additional 11,126 shares in the last quarter. Institutional investors own 81.39% of the company’s stock.

NYSE CRR opened at $4.91 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $133.07 million, a PE ratio of -1.30 and a beta of 1.66. CARBO Ceramics has a 12 month low of $2.84 and a 12 month high of $12.53.

CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.24). The company had revenue of $53.82 million during the quarter, compared to the consensus estimate of $66.76 million. CARBO Ceramics had a negative return on equity of 18.72% and a negative net margin of 32.14%. As a group, equities research analysts anticipate that CARBO Ceramics will post -2.51 earnings per share for the current year.

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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