Smart Sand Inc (NASDAQ:SND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $8.50 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 4.94% from the stock’s previous close.

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. “

Other research analysts also recently issued reports about the stock. Jefferies Group LLC set a $7.00 price objective on shares of Smart Sand and gave the company a “buy” rating in a research report on Monday, August 28th. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a research report on Monday, August 14th. Deutsche Bank AG initiated coverage on shares of Smart Sand in a research report on Tuesday, October 10th. They set a “buy” rating and a $9.00 price objective on the stock. BidaskClub raised shares of Smart Sand from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Credit Suisse Group boosted their price objective on shares of Smart Sand from $5.50 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.80.

Smart Sand (NASDAQ SND) opened at $8.10 on Friday. The stock has a market cap of $327.18 and a price-to-earnings ratio of 12.57. Smart Sand has a 1 year low of $4.81 and a 1 year high of $21.99.

Smart Sand (NASDAQ:SND) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. The business had revenue of $39.33 million for the quarter, compared to the consensus estimate of $33.60 million. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. The company’s quarterly revenue was up 259.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. analysts anticipate that Smart Sand will post 0.33 EPS for the current year.

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In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of Smart Sand stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $5.53 per share, with a total value of $55,300.00. Following the transaction, the vice president now directly owns 110,629 shares of the company’s stock, valued at $611,778.37. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Several large investors have recently added to or reduced their stakes in the company. Credit Suisse AG grew its position in shares of Smart Sand by 6.6% in the 1st quarter. Credit Suisse AG now owns 16,728 shares of the company’s stock worth $272,000 after buying an additional 1,038 shares during the period. Wall Street Access Asset Management LLC grew its position in shares of Smart Sand by 19.6% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock worth $147,000 after buying an additional 2,705 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Smart Sand by 22.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock worth $291,000 after buying an additional 5,901 shares during the period. Citigroup Inc. grew its position in shares of Smart Sand by 0.5% in the 2nd quarter. Citigroup Inc. now owns 1,300,206 shares of the company’s stock worth $11,585,000 after buying an additional 6,416 shares during the period. Finally, American International Group Inc. purchased a new stake in shares of Smart Sand in the 1st quarter worth about $116,000. 56.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Smart Sand (NASDAQ:SND)

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