Credit Suisse Group Downgrades Fairmount Santrol Holdings Inc. (NYSE:FMSA) to Neutral
Fairmount Santrol Holdings Inc. (NYSE:FMSA) was downgraded by equities research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They currently have a $4.00 price objective on the industrial products company’s stock, down from their previous price objective of $12.00. Credit Suisse Group’s price target suggests a potential upside of 28.62% from the stock’s previous close.
Several other research firms have also issued reports on FMSA. Jefferies Group LLC restated a “buy” rating and issued a $10.00 price objective on shares of Fairmount Santrol Holdings in a research note on Tuesday, April 11th. Barclays PLC set a $9.00 price objective on Fairmount Santrol Holdings and gave the company a “buy” rating in a research note on Saturday, March 25th. Guggenheim restated a “buy” rating on shares of Fairmount Santrol Holdings in a research note on Monday, March 27th. Scotiabank restated a “buy” rating and issued a $13.00 price objective on shares of Fairmount Santrol Holdings in a research note on Thursday, March 23rd. Finally, Zacks Investment Research lowered Fairmount Santrol Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.40.
Fairmount Santrol Holdings (NYSE FMSA) opened at 3.11 on Thursday. The company’s market capitalization is $696.46 million. The company has a 50 day moving average price of $3.94 and a 200-day moving average price of $7.39. Fairmount Santrol Holdings has a 52 week low of $2.97 and a 52 week high of $13.12.
Fairmount Santrol Holdings (NYSE:FMSA) last released its earnings results on Thursday, May 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.01. Fairmount Santrol Holdings had a negative return on equity of 91.27% and a negative net margin of 24.91%. The company had revenue of $172.60 million for the quarter, compared to the consensus estimate of $169.50 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The business’s revenue was up 18.6% on a year-over-year basis. On average, equities analysts anticipate that Fairmount Santrol Holdings will post $0.22 earnings per share for the current fiscal year.
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In other Fairmount Santrol Holdings news, CFO Michael F. Biehl sold 14,050 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $4.79, for a total value of $67,299.50. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Fairmount Santrol Holdings by 34.2% in the fourth quarter. State Street Corp now owns 2,758,795 shares of the industrial products company’s stock worth $32,531,000 after buying an additional 702,301 shares in the last quarter. Exane Derivatives purchased a new position in shares of Fairmount Santrol Holdings during the first quarter worth approximately $213,000. AQR Capital Management LLC boosted its position in shares of Fairmount Santrol Holdings by 84.0% in the fourth quarter. AQR Capital Management LLC now owns 119,958 shares of the industrial products company’s stock worth $1,414,000 after buying an additional 54,748 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Fairmount Santrol Holdings by 161.4% in the fourth quarter. Guggenheim Capital LLC now owns 169,552 shares of the industrial products company’s stock worth $1,999,000 after buying an additional 104,695 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of Fairmount Santrol Holdings during the fourth quarter worth approximately $14,216,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
Fairmount Santrol Holdings Company Profile
Fairmount Santrol Holdings Inc is a provider of 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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