Carbo Ceramics, Inc. (NYSE:CRR)’s share price dropped 5.9% on Wednesday . The company traded as low as $9.30 and last traded at $9.50. Approximately 668,488 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 950,738 shares. The stock had previously closed at $10.10.

CRR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Carbo Ceramics from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research note on Wednesday, September 27th. Scotiabank set a $12.00 target price on Carbo Ceramics and gave the stock a “hold” rating in a research note on Friday, October 27th. Cowen set a $11.00 target price on Carbo Ceramics and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, ValuEngine upgraded Carbo Ceramics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Carbo Ceramics currently has an average rating of “Hold” and an average price target of $10.75.

The company has a quick ratio of 3.31, a current ratio of 5.74 and a debt-to-equity ratio of 0.20.

Carbo Ceramics (NYSE:CRR) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.16). The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $46.98 million. Carbo Ceramics had a negative net margin of 79.49% and a negative return on equity of 16.48%. Carbo Ceramics’s revenue for the quarter was up 148.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.49) earnings per share. analysts forecast that Carbo Ceramics, Inc. will post -3.7 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. bought a new position in shares of Carbo Ceramics during the 2nd quarter valued at about $103,000. Texas Permanent School Fund increased its position in shares of Carbo Ceramics by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 15,456 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 128 shares during the last quarter. Creative Planning increased its position in shares of Carbo Ceramics by 101.5% during the 2nd quarter. Creative Planning now owns 17,106 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 8,618 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Carbo Ceramics by 13.9% during the 1st 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 purchasing an additional 1,196 shares during the last quarter. Finally, EagleClaw Capital Managment LLC bought a new position in shares of Carbo Ceramics during the 3rd quarter valued at about $155,000. Hedge funds and other institutional investors own 74.36% of the company’s stock.

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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.

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