Hi-Crush Partners LP (NYSE:HCLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Hi-Crush Partners LP engages in the production of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. The Company reserves consist of Northern White sand, a resource existing in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves and related excavation and processing facilities. Hi-Crush Partners LP is based in Houston, Texas. “

Several other brokerages have also recently commented on HCLP. ValuEngine cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Credit Suisse Group dropped their price target on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, July 20th. Piper Jaffray Companies assumed coverage on shares of Hi-Crush Partners in a research report on Monday, September 25th. They set an “overweight” rating and a $11.75 price target on the stock. BidaskClub raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC set a $15.00 price target on shares of Hi-Crush Partners and gave the stock a “buy” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.58.

Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. The business had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $138.61 million. During the same quarter in the prior year, the company posted ($0.26) earnings per share. The firm’s revenue was up 251.9% on a year-over-year basis.

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Several institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Hi-Crush Partners by 0.4% in the first quarter. California Public Employees Retirement System now owns 280,700 shares of the basic materials company’s stock valued at $4,870,000 after purchasing an additional 1,200 shares during the period. Principal Financial Group Inc. raised its position in shares of Hi-Crush Partners by 11.0% in the second quarter. Principal Financial Group Inc. now owns 30,720 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 3,053 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Hi-Crush Partners by 36.4% in the second quarter. Deprince Race & Zollo Inc. now owns 15,000 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 4,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Hi-Crush Partners by 70.1% in the second quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 8,431 shares during the period. Finally, Strid Group LLC bought a new position in shares of Hi-Crush Partners in the second quarter valued at about $109,000. 51.23% of the stock is currently owned by 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.

Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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