Global Hunter Securities Downgrades CARBO Ceramics Inc. (CRR) to Neutral; Name is Finally Valued Correctly
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Price: $0.30 --0%
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Global Hunter Securities downgraded CARBO Ceramics Inc. (NYSE: CRR) from Accumulate to Neutral. PT $163.
Global analyst says, "CRR reported another blow-out quarter and gave investors the pricing increase it so desperately needed to see with an estimated 7% to 9% price increase for its ceramic proppants (actual average price will be seen when Q is filed). The announcement of its intentions for its Wisconsin property as well as timing for the New Iberia and Toomsboro expansions further drove the stock upward. Despite the great results, we are lowering our rating as we believe that the stock is now discounting the future growth appropriately. However, we will keep a keen eye on the name and the RCS market as pricing holding up in that market and the addition of 600 million pounds of capacity in 2013 could push EBITDA to close to $400 million and get us back on our previously bullish view."
For more ratings news on CARBO Ceramics Inc. click here and for the rating history of CARBO Ceramics Inc. click here.
Shares of CARBO Ceramics Inc. closed at $162.52 yesterday.
Global analyst says, "CRR reported another blow-out quarter and gave investors the pricing increase it so desperately needed to see with an estimated 7% to 9% price increase for its ceramic proppants (actual average price will be seen when Q is filed). The announcement of its intentions for its Wisconsin property as well as timing for the New Iberia and Toomsboro expansions further drove the stock upward. Despite the great results, we are lowering our rating as we believe that the stock is now discounting the future growth appropriately. However, we will keep a keen eye on the name and the RCS market as pricing holding up in that market and the addition of 600 million pounds of capacity in 2013 could push EBITDA to close to $400 million and get us back on our previously bullish view."
For more ratings news on CARBO Ceramics Inc. click here and for the rating history of CARBO Ceramics Inc. click here.
Shares of CARBO Ceramics Inc. closed at $162.52 yesterday.
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