CARBO Ceramics (CRR) is Reiterated by Scotia Howard Weil to Sector Perform, Lowers Price Target to $ 15

CARBO Ceramics (CRR) was Reiterated by Scotia Howard Weil to “Sector Perform” while Lowering the Price Target of the company shares to $ 15 from a previous price target of $18 . Scotia Howard Weil advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, CARBO Ceramics reported $-1.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.90. The company had revenue of $33.10 million for the quarter, compared to analysts expectations of $38.84 million. The company’s revenue was down -55.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.24 EPS.

CARBO Ceramics opened for trading at $11.61 and hit $12.19 on the upside on Friday, eventually ending the session at $11.94, with a gain of 3.11% or 0.36 points. The heightened volatility saw the trading volume jump to 4,29,712 shares. Company has a market cap of $280 M.

In a different news, on Mar 4, 2016, Gary A Kolstad (President and CEO) sold 2,800 shares at $18.90 per share price.

Carbo Ceramics Inc. is an oilfield services technology company which supplies ceramic proppant and sells sand and resin-coated sand. The Company also sells sand independent of its resin-coating operations. It also provides fracture simulation software and fracture design and consulting services and a range of technologies for spill prevention containment and countermeasures. The Company’s products and services are primarily used in the hydraulic fracturing of natural gas and oil wells. There are three primary types of proppant that can be utilized in the hydraulic fracturing process: sand resin-coated sand and ceramic. The Company manufactures six ceramic proppants: KRYPTOSPHERETM HD CARBOHSP CARBOPROP CARBOLITE CARBOECONOPROP and CARBOHYDROPROP. The Company produces resin-coated ceramic (CARBOBOND LITE) and resin-coated sand (CARBOBOND RCS) proppants; CARBO NORTHERN WHITE a frac sand; and CARBONRT proppant. The Company also sells SCALEGUARD a porous ceramic proppant.

CARBO Ceramics

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