Carbo Ceramics, Inc. (CRR) Cut to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Carbo Ceramics, Inc. (NYSE:CRR) from a sell rating to a strong sell rating in a research report report published on Tuesday.

Several other equities research analysts have also commented on the stock. Scotiabank set a $14.00 price target on shares of Carbo Ceramics and gave the company a hold rating in a report on Wednesday, March 22nd. Zacks Investment Research lowered shares of Carbo Ceramics from a hold rating to a sell rating in a report on Tuesday, May 2nd. Finally, Cowen and Company lowered their price target on shares of Carbo Ceramics from $15.00 to $10.50 and set a market perform rating on the stock in a report on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Carbo Ceramics presently has a consensus rating of Hold and an average target price of $11.64.

Shares of Carbo Ceramics (NYSE:CRR) traded up 1.2189% during trading on Tuesday, reaching $6.1035. The company had a trading volume of 193,421 shares. The company’s 50 day moving average is $7.68 and its 200-day moving average is $10.59. Carbo Ceramics has a 1-year low of $5.66 and a 1-year high of $16.70. The stock’s market capitalization is $165.64 million.

Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.09) by $0.13. Carbo Ceramics had a negative net margin of 84.01% and a negative return on equity of 10.36%. The business had revenue of $34.70 million during the quarter, compared to analysts’ expectations of $32.22 million. During the same period in the previous year, the company posted ($1.07) earnings per share. Carbo Ceramics’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that Carbo Ceramics will post ($3.50) earnings per share for the current year.

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In other news, insider Gary A. Kolstad bought 20,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $6.37 per share, with a total value of $127,400.00. Following the purchase, the insider now directly owns 278,135 shares in the company, valued at approximately $1,771,719.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ernesto Bautista III bought 5,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average cost of $6.38 per share, for a total transaction of $31,900.00. Following the completion of the purchase, the vice president now owns 82,898 shares in the company, valued at $528,889.24. The disclosure for this purchase can be found here. Corporate insiders own 18.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Comerica Bank raised its stake in Carbo Ceramics by 20.1% in the fourth quarter. Comerica Bank now owns 22,216 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 3,711 shares during the last quarter. State Street Corp raised its stake in Carbo Ceramics by 20.3% in the fourth quarter. State Street Corp now owns 439,389 shares of the oil and gas company’s stock valued at $4,594,000 after buying an additional 74,120 shares during the last quarter. Two Sigma Investments LP raised its stake in Carbo Ceramics by 56.1% in the fourth quarter. Two Sigma Investments LP now owns 28,808 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 10,352 shares during the last quarter. AQR Capital Management LLC raised its stake in Carbo Ceramics by 1,121.5% in the fourth quarter. AQR Capital Management LLC now owns 137,482 shares of the oil and gas company’s stock valued at $1,438,000 after buying an additional 126,227 shares during the last quarter. Finally, Horizon Kinetics LLC raised its stake in Carbo Ceramics by 67.5% in the fourth quarter. Horizon Kinetics LLC now owns 21,838 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 8,800 shares during the last quarter. 79.94% of the stock is currently owned by institutional investors and hedge funds.

About Carbo Ceramics

CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CRR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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

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