Jefferies Group LLC Reiterates “$15.00” Price Target for Hi-Crush Partners LP (HCLP)
Jefferies Group LLC set a $15.00 price target on Hi-Crush Partners LP (NYSE:HCLP) in a research note released on Thursday. The brokerage currently has a buy rating on the basic materials company’s stock.
A number of other brokerages have also recently weighed in on HCLP. ValuEngine cut Hi-Crush Partners from a hold rating to a sell rating in a research report on Thursday, June 15th. 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. Zacks Investment Research cut Hi-Crush Partners from a hold rating to a sell rating in a research report on Wednesday, July 12th. Credit Suisse Group dropped their price target on Hi-Crush Partners from $24.00 to $12.00 and set an outperform rating for the company in a research report on Thursday, July 20th. Finally, BidaskClub cut Hi-Crush Partners from a hold rating to a sell rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Hi-Crush Partners currently has a consensus rating of Buy and an average price target of $16.58.
Shares of Hi-Crush Partners (NYSE HCLP) opened at 9.20 on Thursday. The company has a 50-day moving average of $8.82 and a 200 day moving average of $11.49. Hi-Crush Partners has a one year low of $7.25 and a one year high of $23.30. The stock’s market cap is $837.48 million.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $135.22 million during the quarter, compared to analysts’ expectations 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 revenue was up 251.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) earnings per share. On average, equities analysts forecast that Hi-Crush Partners will post $1.03 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Strid Group LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $109,000. S. Muoio & CO. LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $111,000. Bank of New York Mellon Corp purchased a new stake in Hi-Crush Partners during the 1st quarter worth about $209,000. NEXT Financial Group Inc increased its position in Hi-Crush Partners by 761.9% during the 2nd quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $157,000. Hedge funds and other institutional investors own 51.23% of the company’s stock.
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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