Hi-Crush Partners LP (HCLP) Raised to Sell at BidaskClub
Hi-Crush Partners LP (NYSE:HCLP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Hi-Crush Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. Credit Suisse Group decreased their price objective on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, July 20th. ValuEngine lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Thursday, June 15th. Mizuho assumed coverage on Hi-Crush Partners in a research note on Wednesday, May 3rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Cowen and Company decreased their price objective on Hi-Crush Partners from $22.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.91.
Hi-Crush Partners (HCLP) traded up 3.23% during trading on Friday, hitting $8.00. 3,486,149 shares of the stock were exchanged. The firm’s 50 day moving average price is $8.56 and its 200-day moving average price is $13.44. The stock’s market cap is $728.24 million. Hi-Crush Partners has a 1-year low of $7.25 and a 1-year high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The business had revenue of $135.22 million for the quarter, compared to analysts’ expectations of $138.61 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. The business’s revenue was up 251.9% on a year-over-year basis. On average, analysts anticipate that Hi-Crush Partners will post $1.05 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in HCLP. Goldman Sachs Group Inc. boosted 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 last quarter. Morgan Stanley boosted its stake in shares of Hi-Crush Partners by 19.5% in the first quarter. Morgan Stanley now owns 10,011,999 shares of the basic materials company’s stock valued at $173,709,000 after buying an additional 1,633,971 shares in the last quarter. ING Groep NV boosted its stake in shares of Hi-Crush Partners by 653.7% in the second quarter. ING Groep NV now owns 1,390,552 shares of the basic materials company’s stock valued at $15,087,000 after buying an additional 1,206,058 shares in the last quarter. Sprott Inc. bought a new stake in shares of Hi-Crush Partners during the first quarter valued at $18,218,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Hi-Crush Partners during the first quarter valued at $14,830,000. 68.54% of the stock is owned by hedge funds and other institutional investors.
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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