Zacks Investment Research downgraded shares of CARBO Ceramics (NYSE:CRR) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “CARBO Ceramics Inc. is an oilfield services technology company that provides industry-leading production enhancement and environmental services solutions. By integrating technologies and intellectual capital to design, build and optimize fractures, CARBO delivers complete production enhancement solutions to help oilfield service companies and E&P clients increase the production of oil and natural gas wells and achieve higher ultimate recovery rates. The Company also provides high-performance spill prevention and containment solutions that are engineered to protect the client’s entire wellsite as well as the environment. “

Several other brokerages have also issued reports on CRR. ValuEngine raised CARBO Ceramics from a strong sell rating to a sell rating in a research report on Tuesday, October 31st. Scotiabank set a $12.00 target price on CARBO Ceramics and gave the stock a hold rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. CARBO Ceramics presently has a consensus rating of Hold and an average price target of $10.88.

CARBO Ceramics (CRR) opened at $7.15 on Monday. CARBO Ceramics has a 12 month low of $5.83 and a 12 month high of $16.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.31 and a current ratio of 4.61.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.02). The firm had revenue of $60.34 million during the quarter, compared to the consensus estimate of $56.87 million. CARBO Ceramics had a negative net margin of 67.47% and a negative return on equity of 20.27%. The firm’s revenue was up 107.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) earnings per share. analysts predict that CARBO Ceramics will post -1.51 EPS for the current fiscal year.

In related news, major shareholder Wilks Brothers, Llc bought 134,356 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was acquired at an average cost of $8.57 per share, with a total value of $1,151,430.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.20% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. bought a new position in CARBO Ceramics during the 2nd quarter worth $103,000. EagleClaw Capital Managment LLC acquired a new stake in CARBO Ceramics during the 3rd quarter worth about $155,000. Ahrens Investment Partners LLC grew its holdings in CARBO Ceramics by 67.8% during the 3rd quarter. Ahrens Investment Partners LLC now owns 19,300 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 7,800 shares during the period. Royal Bank of Canada grew its holdings in CARBO Ceramics by 12.4% during the 2nd quarter. Royal Bank of Canada now owns 28,063 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 3,092 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in CARBO Ceramics by 44.8% during the 2nd quarter. Alliancebernstein L.P. now owns 36,500 shares of the oil and gas company’s stock worth $250,000 after acquiring an additional 11,300 shares during the period. 73.60% of the stock is owned by institutional investors and hedge funds.

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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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