Carbo Ceramics Inc. (NYSE:CRR) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.32.
CRR has been the subject of a number of research reports. Zacks Investment Research lowered shares of Carbo Ceramics from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Scotiabank reissued a “sector perform” rating and set a $11.00 target price (down previously from $15.00) on shares of Carbo Ceramics in a research note on Friday, October 28th. Finally, Howard Weil reduced their price objective on shares of Carbo Ceramics from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, October 28th.
In other news, insider Gary A. Kolstad bought 10,000 shares of the business’s stock in a transaction on Monday, October 31st. The stock was purchased at an average price of $6.04 per share, with a total value of $60,400.00. Following the transaction, the insider now directly owns 209,138 shares in the company, valued at $1,263,193.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary A. Kolstad bought 7,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were purchased at an average cost of $6.06 per share, with a total value of $42,420.00. Following the transaction, the insider now owns 216,138 shares in the company, valued at $1,309,796.28. The disclosure for this purchase can be found here. Company insiders own 18.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC raised its position in Carbo Ceramics by 49.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 9,400 shares of the company’s stock worth $123,000 after buying an additional 3,100 shares in the last quarter. Arizona State Retirement System increased its position in Carbo Ceramics by 1.0% in the second quarter. Arizona State Retirement System now owns 10,214 shares of the company’s stock valued at $134,000 after buying an additional 100 shares during the last quarter. US Bancorp DE increased its position in Carbo Ceramics by 2.1% in the second quarter. US Bancorp DE now owns 11,248 shares of the company’s stock valued at $148,000 after buying an additional 235 shares during the last quarter. Palo Capital Inc. bought a new position in Carbo Ceramics during the third quarter valued at about $149,000. Finally, The Manufacturers Life Insurance Company bought a new position in Carbo Ceramics during the third quarter valued at about $155,000. 82.08% of the stock is owned by hedge funds and other institutional investors.
Carbo Ceramics (NYSE:CRR) opened at 7.60 on Tuesday. The firm’s market capitalization is $204.46 million. Carbo Ceramics has a 1-year low of $5.66 and a 1-year high of $24.20. The company has a 50-day moving average price of $8.60 and a 200-day moving average price of $11.66.
Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, October 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by $0.07. The company had revenue of $20.20 million for the quarter, compared to analyst estimates of $26 million. Carbo Ceramics had a negative net margin of 87.92% and a negative return on equity of 8.00%. The company’s quarterly revenue was down 73.4% on a year-over-year basis. During the same period last year, the business earned ($0.60) EPS. On average, equities research analysts predict that Carbo Ceramics will post ($3.23) earnings per share for the current fiscal year.