Jefferies Remains Sidelined on FMSA Holdings Inc. (FMSA) - PT to $8.50

November 7, 2016 8:45 AM EST
Get Alerts FMSA Hot Sheet
Price: $8.95 -5.99%

Rating Summary:
    11 Buy, 8 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Jefferies maintained a Hold rating on Fairmount Santrol Holdings (NYSE: FMSA), and cut the price target to $8.50 (from $10.00), following the company's 3Q earnings report. Jefferies raised 2017E EPS estimates by $0.10 to ($0.15) but lowered 2018E EPS by $0.05 to $0.40.

Analyst Brad Handler commented, "FMSA grew raw sand volumes faster than all of its public peers but appears to be running out of spare capacity at its flagship Wedron, IL facility. Looking at its other idled facilities, we note an apparently sharp step up in cost/ton due to unfavorable mine and/or logistics position. While recovery in coated products (including PropelSSP) may help, we see looming market-share/profitability challenges in at least 1H17. We cut PT to $8.50; maintain HOLD rating."

For an analyst ratings summary and ratings history on Fairmount Santrol Holdings click here. For more ratings news on Fairmount Santrol Holdings click here.

Shares of Fairmount Santrol Holdings closed at $7.70 yesterday.



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