Zacks Investment Research downgraded shares of Fairmount Santrol (NYSE:FMSA) from a hold rating to a sell rating in a research note released on Monday morning.

According to Zacks, “Fairmount Santrol Holdings Inc. provides sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. Its operating segment consists of Proppant Solutions and Industrial and Recreational Products. Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations. I&R segment provides raw, coated and custom blended sands to the foundry, building products, glass, turf and landscape and filtration industries. Fairmount Santrol Holdings Inc., formerly known as FMSA Holdings Inc., is headquartered in Chesterland, Ohio. “

Several other equities research analysts also recently commented on FMSA. BidaskClub raised Fairmount Santrol from a hold rating to a buy rating in a report on Wednesday, September 27th. KeyCorp reissued an overweight rating and issued a $6.50 price objective on shares of Fairmount Santrol in a report on Wednesday, October 4th. Citigroup increased their price objective on Fairmount Santrol from $4.25 to $6.00 and gave the company a buy rating in a report on Thursday, October 5th. Wells Fargo & Co downgraded Fairmount Santrol from an outperform rating to a market perform rating in a report on Monday, October 16th. Finally, Cowen set a $6.00 price objective on Fairmount Santrol and gave the company a buy rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $5.95.

Fairmount Santrol (FMSA) remained flat at $$6.03 during trading hours on Monday. The company had a trading volume of 3,736,432 shares, compared to its average volume of 3,128,154. Fairmount Santrol has a 1 year low of $2.46 and a 1 year high of $13.12. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.11 and a current ratio of 2.52. The stock has a market cap of $1,350.00, a price-to-earnings ratio of 120.60 and a beta of 2.11.

Fairmount Santrol (NYSE:FMSA) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $280.05 million during the quarter, compared to the consensus estimate of $264.02 million. Fairmount Santrol had a return on equity of 4.05% and a net margin of 1.69%. The business’s revenue was up 107.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. analysts expect that Fairmount Santrol will post 0.29 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in FMSA. ING Groep NV acquired a new stake in Fairmount Santrol during the 3rd quarter valued at $24,846,000. Elliott Management Corp acquired a new stake in Fairmount Santrol during the 2nd quarter valued at $18,720,000. Think Investments LP acquired a new stake in Fairmount Santrol during the 3rd quarter valued at $17,643,000. State Street Corp lifted its holdings in Fairmount Santrol by 50.9% during the 2nd quarter. State Street Corp now owns 4,569,533 shares of the industrial products company’s stock valued at $17,820,000 after purchasing an additional 1,540,859 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Fairmount Santrol during the 2nd quarter valued at $5,690,000. 75.29% of the stock is owned by institutional investors and hedge funds.

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About Fairmount Santrol

Fairmount Santrol Holdings Inc is a provider of sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.

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