Carbo Ceramics, Inc. (CRR) PT Set at $11.00 by Cowen and Company
Cowen and Company set a $11.00 price objective on Carbo Ceramics, Inc. (NYSE:CRR) in a research report released on Friday. The brokerage currently has a hold rating on the oil and gas company’s stock.
A number of other brokerages have also weighed in on CRR. Scotiabank set a $12.00 price objective on shares of Carbo Ceramics and gave the stock a hold rating in a report on Friday, July 28th. Piper Jaffray Companies set a $9.00 price objective on shares of Carbo Ceramics and gave the stock a hold rating in a report on Thursday, July 27th. ValuEngine lowered shares of Carbo Ceramics from a sell rating to a strong sell rating in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Carbo Ceramics from a hold rating to a sell rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley restated an underweight rating and issued a $5.00 price objective (down from $7.50) on shares of Carbo Ceramics in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $10.78.
Carbo Ceramics (NYSE:CRR) opened at 7.46 on Friday. The company has a 50-day moving average of $7.46 and a 200 day moving average of $7.87. The company’s market cap is $202.52 million. Carbo Ceramics has a 52 week low of $5.66 and a 52 week high of $16.70.
Carbo Ceramics (NYSE:CRR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.07). The company had revenue of $43.57 million for the quarter, compared to the consensus estimate of $36.50 million. Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The company’s revenue for the quarter was up 111.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. On average, equities analysts forecast that Carbo Ceramics will post ($3.63) EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. bought a new stake in Carbo Ceramics during the 2nd quarter valued at $103,000. Texas Permanent School Fund raised its holdings in Carbo Ceramics by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 15,456 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 128 shares during the last quarter. Creative Planning raised its holdings in Carbo Ceramics by 101.5% during the 2nd quarter. Creative Planning now owns 17,106 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 8,618 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Carbo Ceramics by 13.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 9,786 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,196 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Carbo Ceramics by 1.8% during the 1st quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 200 shares during the last quarter. Institutional investors own 72.19% of the company’s stock.
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.
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