Johnson Rice Initiates Coverage on FMSA Holdings Inc. (FMSA)
Equities researchers at Johnson Rice began coverage on shares of FMSA Holdings Inc. (NYSE:FMSA) in a research note issued on Monday. The brokerage set an “accumulate” rating on the stock.
A number of other research firms have also weighed in on FMSA. Barclays PLC began coverage on shares of FMSA Holdings in a research report on Wednesday, August 10th. They issued an “equal weight” rating and a $9.00 price objective on the stock. DA Davidson lowered shares of FMSA Holdings from a “buy” rating to an “underperform” rating and set a $5.00 price objective on the stock. in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of FMSA Holdings from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, October 5th. Jefferies Group reiterated a “hold” rating and issued a $8.00 price objective (up from $4.00) on shares of FMSA Holdings in a research report on Monday, July 11th. Finally, Wells Fargo & Co. upgraded shares of FMSA Holdings from a “market perform” rating to an “outperform” rating in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $7.18.
FMSA Holdings (NYSE:FMSA) traded up 5.38% during midday trading on Monday, hitting $9.59. 727,839 shares of the stock were exchanged. The stock’s market cap is $1.84 billion. FMSA Holdings has a one year low of $1.00 and a one year high of $9.69. The firm has a 50-day moving average price of $7.73 and a 200-day moving average price of $6.09.
FMSA Holdings (NYSE:FMSA) last announced its earnings results on Thursday, August 4th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.41. The firm had revenue of $114.20 million for the quarter, compared to analyst estimates of $129.35 million. The company’s revenue was down 48.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. On average, equities research analysts anticipate that FMSA Holdings will post ($0.42) EPS for the current fiscal year.
In other news, Director Charles D. Fowler bought 1,666,666 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average price of $5.95 per share, with a total value of $9,916,662.70. Following the purchase, the director now owns 1,705,132 shares of the company’s stock, valued at approximately $10,145,535.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in FMSA Holdings by 1.9% in the second quarter. California State Teachers Retirement System now owns 138,086 shares of the company’s stock valued at $1,065,000 after buying an additional 2,546 shares during the period. State Street Corp boosted its stake in FMSA Holdings by 1.3% in the first quarter. State Street Corp now owns 872,269 shares of the company’s stock valued at $2,194,000 after buying an additional 11,165 shares during the period. Panagora Asset Management Inc. boosted its stake in FMSA Holdings by 17.1% in the second quarter. Panagora Asset Management Inc. now owns 118,265 shares of the company’s stock valued at $912,000 after buying an additional 17,232 shares during the period. Geode Capital Management LLC boosted its stake in FMSA Holdings by 7.5% in the first quarter. Geode Capital Management LLC now owns 416,889 shares of the company’s stock valued at $1,046,000 after buying an additional 28,917 shares during the period. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in FMSA Holdings during the second quarter valued at approximately $434,000. 14.36% of the stock is owned by hedge funds and other institutional investors.
FMSA Holdings Company Profile
Fairmount Santrol Holdings Inc, formerly FMSA Holdings Inc, provides sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.
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