Smart Sand Inc (SND) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Smart Sand Inc (NYSE:SND) from a sell rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
SND has been the subject of a number of other research reports. Deutsche Bank AG reiterated a buy rating and set a $18.00 target price (down previously from $21.00) on shares of Smart Sand in a research note on Tuesday, May 30th. Jefferies Group LLC set a $7.00 target price on shares of Smart Sand and gave the stock a buy rating in a research note on Monday, August 28th. Piper Jaffray Companies reiterated a buy rating on shares of Smart Sand in a research note on Monday, August 14th. Credit Suisse Group downgraded shares of Smart Sand from an outperform rating to a neutral rating and lowered their target price for the stock from $20.00 to $8.50 in a research note on Thursday, July 20th. Finally, Janney Montgomery Scott started coverage on shares of Smart Sand in a research note on Thursday, June 15th. They set a buy rating and a $13.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $14.15.
Smart Sand (SND) traded down 1.51% during mid-day trading on Friday, hitting $5.86. The stock had a trading volume of 492,256 shares. The firm has a 50-day moving average of $5.82 and a 200-day moving average of $10.59. Smart Sand has a 52-week low of $4.81 and a 52-week high of $21.99. The stock has a market cap of $236.58 million and a P/E ratio of 12.34.
Smart Sand (NYSE:SND) last issued its earnings results on Thursday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business’s revenue for the quarter was up 250.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. On average, analysts forecast that Smart Sand will post $0.30 EPS for the current fiscal year.
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In related news, VP Robert Kiszka acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was bought at an average price of $5.53 per share, for a total transaction of $55,300.00. Following the completion of the purchase, the vice president now directly owns 110,629 shares of the company’s stock, valued at approximately $611,778.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Edwin Young acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $5.18 per share, with a total value of $518,000.00. Following the purchase, the chief executive officer now directly owns 140,600 shares of the company’s stock, valued at $728,308. The disclosure for this purchase can be found here. Insiders acquired 132,000 shares of company stock valued at $685,960 in the last 90 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. acquired a new position in Smart Sand in the first quarter valued at $116,000. Nationwide Fund Advisors boosted its stake in Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after acquiring an additional 1,597 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Smart Sand in the first quarter valued at $156,000. Quantbot Technologies LP acquired a new position in Smart Sand in the first quarter valued at $167,000. Finally, Royal Bank of Canada boosted its stake in Smart Sand by 1,651.3% in the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after acquiring an additional 10,783 shares in the last quarter.
About Smart Sand
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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