Jefferies Remains Sidelined on FMSA Holdings Inc. (FMSA) - PT to $8.50
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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."
Shares of Fairmount Santrol Holdings closed at $7.70 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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