Zacks Investment Research upgraded shares of FMSA Holdings Inc. (NYSE:FMSA) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $10.00 price target on the stock.
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 the company. DA Davidson downgraded FMSA Holdings from a buy rating to an underperform rating and set a $5.00 price objective for the company. in a report on Monday, June 13th. Wells Fargo & Co. upgraded FMSA Holdings from a market perform rating to an outperform rating in a report on Monday, July 18th. Citigroup Inc. set a $9.50 price objective on FMSA Holdings and gave the stock a buy rating in a report on Monday, September 12th. Barclays PLC started coverage on FMSA Holdings in a report on Wednesday, August 10th. They issued an equal weight rating and a $9.00 price objective for the company. Finally, Jefferies Group reiterated a hold rating and issued a $8.00 price objective (up from $4.00) on shares of FMSA Holdings in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. FMSA Holdings has a consensus rating of Buy and an average target price of $7.18.
FMSA Holdings (NYSE:FMSA) traded up 5.30% on Wednesday, hitting $8.94. 1,969,972 shares of the company traded hands. The firm’s 50 day moving average price is $7.67 and its 200 day moving average price is $6.02. FMSA Holdings has a 1-year low of $1.00 and a 1-year high of $9.12. The firm’s market capitalization is $1.71 billion.
FMSA Holdings (NYSE:FMSA) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.41. The company earned $114.20 million during the quarter, compared to the consensus estimate of $129.35 million. During the same period last year, the firm earned $0.02 EPS. The business’s quarterly revenue was down 48.5% compared to the same quarter last year. Equities research analysts predict that FMSA Holdings will post ($0.43) EPS for the current fiscal year.
In related news, Director Charles D. Fowler acquired 1,666,666 shares of the stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average cost of $5.95 per share, with a total value of $9,916,662.70. Following the transaction, the director now directly owns 1,705,132 shares in the company, valued at $10,145,535.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY acquired a new position in FMSA Holdings during the second quarter worth approximately $434,000. Panagora Asset Management Inc. boosted its position in FMSA Holdings by 17.1% in the second quarter. Panagora Asset Management Inc. now owns 118,265 shares of the company’s stock worth $912,000 after buying an additional 17,232 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in FMSA Holdings by 51.8% in the second quarter. Parametric Portfolio Associates LLC now owns 454,708 shares of the company’s stock worth $3,506,000 after buying an additional 155,068 shares in the last quarter. State Street Corp boosted its position in FMSA Holdings by 9.0% in the second quarter. State Street Corp now owns 950,827 shares of the company’s stock worth $7,335,000 after buying an additional 78,558 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in FMSA Holdings during the second quarter worth approximately $1,498,000. 14.36% of the stock is currently owned by hedge funds and other institutional investors.
FMSA Holdings Company Profile
Fairmount Santrol Holdings Inc, formerly FMSA Holdings Inc, provides 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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