CARBO Ceramics (NYSE:CRR) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of CARBO Ceramics (NYSE:CRR) from a sell rating to a hold rating in a research report released on Thursday, ValuEngine reports.

Several other brokerages have also issued reports on CRR. Zacks Investment Research raised CARBO Ceramics from a sell rating to a hold rating in a research report on Tuesday, July 30th. Piper Jaffray Companies set a $1.00 target price on CARBO Ceramics and gave the stock a hold rating in a research report on Friday, July 26th.

Shares of NYSE CRR traded down $0.05 during mid-day trading on Thursday, hitting $1.36. 4,021 shares of the stock traded hands, compared to its average volume of 424,839. The company has a current ratio of 3.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. CARBO Ceramics has a twelve month low of $0.83 and a twelve month high of $9.37. The firm has a market capitalization of $41.42 million, a P/E ratio of -0.51 and a beta of 1.81. The firm’s 50 day simple moving average is $1.20.

CARBO Ceramics (NYSE:CRR) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.05). The firm had revenue of $43.10 million for the quarter, compared to analyst estimates of $51.85 million. CARBO Ceramics had a negative net margin of 37.95% and a negative return on equity of 21.61%. The company’s revenue was down 25.7% compared to the same quarter last year. During the same period last year, the business earned ($0.55) EPS. On average, equities analysts anticipate that CARBO Ceramics will post -2.11 EPS for the current year.

In other CARBO Ceramics news, VP Don P. Conkle acquired 75,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $1.31 per share, with a total value of $98,250.00. Following the transaction, the vice president now owns 228,237 shares in the company, valued at approximately $298,990.47. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary A. Kolstad acquired 32,350 shares of the stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $1.03 per share, with a total value of $33,320.50. Following the completion of the transaction, the chief executive officer now owns 495,000 shares in the company, valued at approximately $509,850. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 137,350 shares of company stock valued at $176,571. 15.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CRR. Deutsche Bank AG increased its position in CARBO Ceramics by 400.2% in the 4th quarter. Deutsche Bank AG now owns 240,947 shares of the oil and gas company’s stock valued at $837,000 after buying an additional 192,776 shares in the last quarter. Moors & Cabot Inc. increased its position in CARBO Ceramics by 92.7% in the 1st quarter. Moors & Cabot Inc. now owns 183,600 shares of the oil and gas company’s stock valued at $650,000 after buying an additional 88,300 shares in the last quarter. Spark Investment Management LLC increased its position in CARBO Ceramics by 302.0% in the 1st quarter. Spark Investment Management LLC now owns 72,360 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 54,360 shares in the last quarter. SG Americas Securities LLC bought a new stake in CARBO Ceramics in the 2nd quarter valued at about $66,000. Finally, Tieton Capital Management LLC increased its position in CARBO Ceramics by 12.6% in the 1st quarter. Tieton Capital Management LLC now owns 330,511 shares of the oil and gas company’s stock valued at $1,157,000 after buying an additional 36,950 shares in the last quarter. 71.76% of the stock is 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, 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.

See Also: Analyst Ratings Trading

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.