Piper Jaffray Companies set a $9.00 target price on Carbo Ceramics, Inc. (NYSE:CRR) in a research report sent to investors on Thursday morning. The firm currently has a hold rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Carbo Ceramics from a sell rating to a strong sell rating in a research report on Tuesday, June 20th. Cowen and Company cut their price objective on shares of 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. Morgan Stanley reissued an underweight rating and set a $5.00 price objective (down previously from $7.50) on shares of Carbo Ceramics in a research report on Wednesday, June 21st. Finally, Zacks Investment Research downgraded shares of 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. Carbo Ceramics currently has a consensus rating of Hold and an average target price of $11.06.

Shares of Carbo Ceramics (NYSE CRR) opened at 6.55 on Thursday. The stock’s market cap is $177.81 million. Carbo Ceramics has a 52-week low of $5.66 and a 52-week high of $16.70. The firm’s 50 day moving average price is $6.78 and its 200 day moving average price is $9.97.

Carbo Ceramics (NYSE:CRR) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $43.57 million during the quarter, compared to the consensus estimate of $36.50 million. During the same period last year, the firm posted ($0.88) EPS. The company’s revenue for the quarter was up 111.0% on a year-over-year basis. On average, analysts expect that Carbo Ceramics will post ($3.49) EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Texas Permanent School Fund increased its position in shares of 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 valued at $106,000 after buying an additional 128 shares in the last quarter. Creative Planning increased its position in shares of Carbo Ceramics by 70.2% in the first quarter. Creative Planning now owns 8,488 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 3,502 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Carbo Ceramics during the fourth quarter valued at $117,000. Public Employees Retirement System of Ohio increased its position in shares of Carbo Ceramics by 13.9% in the first 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 in the last quarter. Finally, Arizona State Retirement System increased its position in shares of 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 valued at $144,000 after buying an additional 200 shares in the last quarter. 84.36% 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.

Analyst Recommendations for Carbo Ceramics (NYSE:CRR)

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