ValuEngine upgraded shares of Carbo Ceramics, Inc. (NYSE:CRR) from a strong sell rating to a sell rating in a report released on Tuesday morning.

CRR has been the subject of several other research reports. Morgan Stanley reissued an underweight rating and issued a $5.00 target price (down previously from $7.50) on shares of Carbo Ceramics in a research report on Wednesday, June 21st. Cowen and Company decreased their target price on Carbo Ceramics from $15.00 to $10.50 and set a market perform rating for the company in a research report on Wednesday, May 10th. Finally, Zacks Investment Research lowered Carbo Ceramics from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.06.

Shares of Carbo Ceramics (NYSE:CRR) remained flat at $6.55 during midday trading on Tuesday. 1,487,935 shares of the company were exchanged. The stock has a 50-day moving average of $6.78 and a 200-day moving average of $9.97. The firm’s market cap is $174.66 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. Carbo Ceramics had a negative return on equity of 12.72% and a negative net margin of 72.46%. The firm had revenue of $43.57 million during the quarter, compared to the consensus estimate of $36.50 million. During the same period in the prior year, the company posted ($0.88) EPS. The firm’s revenue was up 111.0% on a year-over-year basis. On average, equities analysts forecast that Carbo Ceramics will post ($3.49) EPS for the current year.

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In related news, insider Gary A. Kolstad acquired 20,000 shares of Carbo Ceramics stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $6.37 per share, with a total value of $127,400.00. Following the transaction, the insider now directly owns 278,135 shares in the company, valued at $1,771,719.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ernesto Bautista III acquired 5,000 shares of Carbo Ceramics stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average cost of $6.38 per share, with a total value of $31,900.00. Following the transaction, the vice president now owns 82,898 shares in the company, valued at $528,889.24. The disclosure for this purchase can be found here. 18.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CRR. US Bancorp DE raised its position in Carbo Ceramics by 0.3% in the second quarter. US Bancorp DE now owns 40,614 shares of the oil and gas company’s stock worth $278,000 after buying an additional 114 shares during the period. Texas Permanent School Fund raised its position in Carbo Ceramics by 0.8% in the second quarter. Texas Permanent School Fund now owns 15,456 shares of the oil and gas company’s stock worth $106,000 after buying an additional 128 shares during the period. Arizona State Retirement System raised its position in Carbo Ceramics by 1.8% in the first quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock worth $144,000 after buying an additional 200 shares during the period. Diversified Investment Strategies LLC raised its position in Carbo Ceramics by 0.8% in the first quarter. Diversified Investment Strategies LLC now owns 83,897 shares of the oil and gas company’s stock worth $1,094,000 after buying an additional 625 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in Carbo Ceramics by 7.4% in the first quarter. Thrivent Financial For Lutherans now owns 11,980 shares of the oil and gas company’s stock worth $156,000 after buying an additional 830 shares during the period. 80.41% of the stock is owned by institutional investors.

Carbo Ceramics Company Profile

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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Analyst Recommendations for Carbo Ceramics (NYSE:CRR)

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