NEW YORK (TheStreet) -- Carbo Ceramics (CRR) shares are down 18.2% to $69.12 on heavy volume Monday after the synthetic ceramic proppant and the resin-coated sand supplier said that third quarter sales of its synthetic fracking material fell.
The company reported that sales will fall 18% from the previous quarter, when it sold 454 million pounds of the material. The company said demand fell as customers chose to use sand instead of its synthetic solution.
Carbo Ceramics trading volume spiked in early market trading today surpassing more than four times its average daily trading amount.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates CARBO CERAMICS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CARBO CERAMICS INC (CRR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: