CARBO Ceramics (CRR) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of CARBO Ceramics (NYSE:CRR) from a hold rating to a sell rating in a research report sent to investors on Monday morning, Zacks.com reports.

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. “

Separately, ValuEngine upgraded shares of CARBO Ceramics from a sell rating to a hold rating in a report on Friday, March 15th.

Shares of NYSE:CRR opened at $1.77 on Monday. The firm has a market cap of $53.11 million, a PE ratio of -0.66 and a beta of 1.65. The company has a current ratio of 2.03, a quick ratio of 1.35 and a debt-to-equity ratio of 0.14. CARBO Ceramics has a 52 week low of $1.71 and a 52 week high of $10.92.

CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). The business had revenue of $47.50 million for the quarter, compared to analyst estimates of $50.12 million. CARBO Ceramics had a negative return on equity of 20.16% and a negative net margin of 34.58%. CARBO Ceramics’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.83) EPS. Equities analysts anticipate that CARBO Ceramics will post -1.98 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in CARBO Ceramics by 78.0% during the first quarter. Renaissance Technologies LLC now owns 895,400 shares of the oil and gas company’s stock worth $3,134,000 after purchasing an additional 392,464 shares during the last quarter. Vanguard Group Inc boosted its stake in CARBO Ceramics by 18.4% in the third quarter. Vanguard Group Inc now owns 1,433,430 shares of the oil and gas company’s stock valued at $10,392,000 after acquiring an additional 222,706 shares during the last quarter. Vanguard Group Inc. boosted its stake in CARBO Ceramics by 18.4% in the third quarter. Vanguard Group Inc. now owns 1,433,430 shares of the oil and gas company’s stock valued at $10,392,000 after acquiring an additional 222,706 shares during the last quarter. Morgan Stanley lifted its stake in shares of CARBO Ceramics by 165.7% during the 3rd quarter. Morgan Stanley now owns 337,635 shares of the oil and gas company’s stock valued at $2,448,000 after buying an additional 210,576 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of CARBO Ceramics by 400.2% during the 4th quarter. Deutsche Bank AG now owns 240,947 shares of the oil and gas company’s stock valued at $837,000 after buying an additional 192,776 shares in the last quarter. Institutional investors own 74.29% of the company’s stock.

CARBO Ceramics Company Profile

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.

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