Hi-Crush Partners (HCLP) Lifted to “Hold” at Zacks Investment Research
Hi-Crush Partners (NYSE:HCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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. “
A number of other analysts also recently weighed in on HCLP. Piper Jaffray Companies initiated coverage on shares of Hi-Crush Partners in a research report on Monday, September 25th. They set an “overweight” rating and a $11.75 target price for the company. BidaskClub raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. ValuEngine raised shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group set a $15.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Cowen set a $12.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Wednesday, October 18th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $16.15.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The firm had revenue of $167.58 million during the quarter, compared to analyst estimates of $168.95 million. During the same period in the prior year, the company earned ($0.21) EPS. The business’s quarterly revenue was up 259.9% compared to the same quarter last year. analysts expect that Hi-Crush Partners will post 0.97 EPS for the current fiscal year.
Hi-Crush Partners declared that its board has initiated a share repurchase program on Tuesday, October 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the business. First National Bank of Mount Dora Trust Investment Services bought a new position in shares of Hi-Crush Partners during the 4th quarter worth approximately $107,000. GSA Capital Partners LLP bought a new position in shares of Hi-Crush Partners during the 3rd quarter worth approximately $129,000. Advisor Group Inc. boosted its holdings in shares of Hi-Crush Partners by 80.5% during the 3rd quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock worth $151,000 after buying an additional 7,036 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in shares of Hi-Crush Partners during the 3rd quarter worth approximately $190,000. Finally, Southport Management L.L.C. bought a new position in shares of Hi-Crush Partners during the 2nd quarter worth approximately $217,000. Hedge funds and other institutional investors own 43.88% of the company’s stock.
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Hi-Crush Partners Company Profile
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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