Global Hunter Securities Maintains a 'Neutral' on CARBO Ceramics (CRR); Cutting Numbers After Q1 Report
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Price: $0.30 --0%
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
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Global Hunter Securities maintains a 'Neutral' on CARBO Ceramics Inc. (NYSE: CRR) price target lowered from $105 to $92.
Analyst, Brian Uhlmer, said, "CRR posted a miss that was not exactly all bad, as RCS volumes drove the negative delta. Ceramics volumes and pricing were actually decent, and margins ended up in line with our forecast. Looking forward there are major headwinds as CRR wants to expand sales volumes and keep factory throughput up, likely leading to price erosion. Management did a good job of setting expectations moving forward and laid out the timing for expansions, hence causing us to lower our numbers. Due to the overall headwinds in the market we are maintaining our Neutral rating." (Cuts FY13 EPS from $7.50 to $6.50)
For an analyst ratings summary and ratings history on CARBO Ceramics Inc. click here. For more ratings news on CARBO Ceramics Inc. click here.
Shares of CARBO Ceramics Inc. closed at $86.81 yesterday.
Analyst, Brian Uhlmer, said, "CRR posted a miss that was not exactly all bad, as RCS volumes drove the negative delta. Ceramics volumes and pricing were actually decent, and margins ended up in line with our forecast. Looking forward there are major headwinds as CRR wants to expand sales volumes and keep factory throughput up, likely leading to price erosion. Management did a good job of setting expectations moving forward and laid out the timing for expansions, hence causing us to lower our numbers. Due to the overall headwinds in the market we are maintaining our Neutral rating." (Cuts FY13 EPS from $7.50 to $6.50)
For an analyst ratings summary and ratings history on CARBO Ceramics Inc. click here. For more ratings news on CARBO Ceramics Inc. click here.
Shares of CARBO Ceramics Inc. closed at $86.81 yesterday.
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