Hi-Crush Partners LP (HCLP) Given Average Recommendation of “Buy” by Analysts
Shares of Hi-Crush Partners LP (NYSE:HCLP) have earned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.80.
HCLP has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Hi-Crush Partners in a research report on Tuesday, May 30th. Evercore ISI initiated coverage on Hi-Crush Partners in a research report on Thursday, May 25th. They issued an “outperform” rating and a $22.00 price target for the company. BidaskClub lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Johnson Rice initiated coverage on Hi-Crush Partners in a research report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price target for the company. Finally, Zacks Investment Research lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
Shares of Hi-Crush Partners (NYSE HCLP) traded down 0.61% during mid-day trading on Friday, hitting $8.10. 768,287 shares of the stock traded hands. Hi-Crush Partners has a 1-year low of $7.60 and a 1-year high of $23.30. The company’s 50-day moving average price is $9.35 and its 200 day moving average price is $14.31. The company’s market capitalization is $737.34 million.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $135.22 million during the quarter, compared to analyst estimates of $138.61 million. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. Hi-Crush Partners’s quarterly revenue was up 251.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. Equities research analysts forecast that Hi-Crush Partners will post $1.03 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of HCLP. Round Table Services LLC acquired a new position in shares of Hi-Crush Partners during the first quarter worth $257,000. GeoSphere Capital Management acquired a new position in shares of Hi-Crush Partners during the first quarter worth $867,000. Sprott Inc. raised its position in shares of Hi-Crush Partners by 11.9% in the second quarter. Sprott Inc. now owns 1,175,000 shares of the basic materials company’s stock worth $12,749,000 after buying an additional 125,000 shares during the period. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Hi-Crush Partners during the second quarter worth $774,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Hi-Crush Partners by 86.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock worth $75,847,000 after buying an additional 2,027,256 shares during the period. 68.31% of the stock is owned by institutional investors and hedge funds.
About Hi-Crush Partners
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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