FMSA Holdings Inc. (FMSA) Lifted to Outperform at Credit Suisse Group AG
Credit Suisse Group AG upgraded shares of FMSA Holdings Inc. (NYSE:FMSA) from a neutral rating to an outperform rating in a report published on Monday. They currently have $11.00 price objective on the stock, up from their previous price objective of $7.00.
Other equities research analysts have also recently issued research reports about the stock. Citigroup Inc. dropped their target price on shares of FMSA Holdings from $10.00 to $9.00 and set a buy rating for the company in a research report on Wednesday, August 10th. Scotiabank reiterated a sector outperform rating and set a $15.00 target price (up previously from $10.00) on shares of FMSA Holdings in a research report on Saturday, October 22nd. Jefferies Group restated a hold rating and issued a $8.00 price objective (up previously from $4.00) on shares of FMSA Holdings in a research report on Monday, July 11th. Simmons upgraded shares of FMSA Holdings to a buy rating and set a $8.00 price objective for the company in a research report on Thursday, July 21st. Finally, Zacks Investment Research upgraded shares of FMSA Holdings from a hold rating to a strong-buy rating and set a $10.00 price objective for the company in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. FMSA Holdings presently has a consensus rating of Buy and an average target price of $9.01.
Shares of FMSA Holdings (NYSE:FMSA) opened at 8.37 on Monday. The firm’s market cap is $1.86 billion. The stock’s 50 day moving average is $8.64 and its 200-day moving average is $7.11. FMSA Holdings has a 12-month low of $1.00 and a 12-month high of $9.90.
FMSA Holdings (NYSE:FMSA) last announced its earnings results on Thursday, November 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $134.80 million for the quarter, compared to analyst estimates of $132.51 million. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, analysts anticipate that FMSA Holdings will post ($0.36) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in FMSA. Strs Ohio increased its stake in shares of FMSA Holdings by 61.1% in the third quarter. Strs Ohio now owns 33,500 shares of the company’s stock valued at $284,000 after buying an additional 12,700 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of FMSA Holdings by 43.6% in the third quarter. UBS Asset Management Americas Inc. now owns 34,600 shares of the company’s stock valued at $293,000 after buying an additional 10,500 shares during the period. MAI Capital Management increased its stake in shares of FMSA Holdings by 24.7% in the third quarter. MAI Capital Management now owns 40,362 shares of the company’s stock valued at $342,000 after buying an additional 8,000 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in shares of FMSA Holdings during the second quarter valued at approximately $434,000. Finally, Panagora Asset Management Inc. increased its stake in shares of 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. Hedge funds and other institutional investors own 14.53% of the company’s stock.
About FMSA Holdings
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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