Zacks Investment Research upgraded shares of Fairmount Santrol (NYSE:FMSA) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Fairmount Santrol Holdings Inc. provides sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells. Its operating segment consists of Proppant Solutions and Industrial and Recreational Products. Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations. I&R segment provides raw, coated and custom blended sands to the foundry, building products, glass, turf and landscape and filtration industries. Fairmount Santrol Holdings Inc., formerly known as FMSA Holdings Inc., is headquartered in Chesterland, Ohio. “
Several other research analysts also recently issued reports on the company. Credit Suisse Group upped their price objective on Fairmount Santrol from $4.00 to $5.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Guggenheim raised Fairmount Santrol from a neutral rating to a buy rating and set a $7.00 price objective on the stock in a report on Monday, December 18th. Royal Bank of Canada set a $7.00 price objective on Fairmount Santrol and gave the stock a buy rating in a report on Thursday, December 21st. Piper Jaffray Companies reaffirmed a buy rating and set a $6.15 price objective on shares of Fairmount Santrol in a report on Tuesday, December 26th. Finally, BidaskClub upgraded shares of Fairmount Santrol from a sell rating to a hold rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. Fairmount Santrol has an average rating of Hold and an average price target of $5.95.
Fairmount Santrol (FMSA) opened at $5.21 on Tuesday. Fairmount Santrol has a 1-year low of $2.46 and a 1-year high of $13.02. The company has a current ratio of 2.52, a quick ratio of 2.11 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $1,142.87, a price-to-earnings ratio of 86.83 and a beta of 2.05.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FMSA. Millennium Management LLC increased its position in shares of Fairmount Santrol by 158.4% in the 4th quarter. Millennium Management LLC now owns 10,112,026 shares of the industrial products company’s stock valued at $52,886,000 after buying an additional 6,198,262 shares in the last quarter. ING Groep NV bought a new stake in shares of Fairmount Santrol in the 3rd quarter valued at $24,846,000. SailingStone Capital Partners LLC bought a new stake in shares of Fairmount Santrol in the 4th quarter valued at $24,371,000. Think Investments LP bought a new stake in shares of Fairmount Santrol in the 3rd quarter valued at $17,643,000. Finally, State Street Corp increased its position in shares of Fairmount Santrol by 50.9% in the 2nd quarter. State Street Corp now owns 4,569,533 shares of the industrial products company’s stock valued at $17,820,000 after buying an additional 1,540,859 shares in the last quarter. Institutional investors and hedge funds own 73.45% of the company’s stock.
Fairmount Santrol Company Profile
Fairmount Santrol Holdings Inc is a provider of sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.
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