Zacks Investment Research downgraded shares of Smart Sand (NASDAQ:SND) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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 have also issued reports about the stock. B. Riley raised shares of Smart Sand from a neutral rating to a buy rating and raised their price objective for the stock from $4.50 to $5.00 in a report on Wednesday, July 17th. Evercore ISI set a $5.00 price objective on shares of Smart Sand and gave the stock a hold rating in a report on Wednesday, August 7th. Piper Jaffray Companies set a $4.00 price objective on shares of Smart Sand and gave the stock a hold rating in a report on Wednesday, May 8th. Finally, Seaport Global Securities reissued a buy rating on shares of Smart Sand in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $3.97.

SND opened at $2.51 on Wednesday. The company has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $3.16. The firm has a market cap of $102.88 million, a price-to-earnings ratio of 2.49 and a beta of 2.25. Smart Sand has a twelve month low of $1.92 and a twelve month high of $5.56. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

Smart Sand (NASDAQ:SND) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.21. The business had revenue of $67.90 million during the quarter, compared to analyst estimates of $57.03 million. Smart Sand had a net margin of 11.06% and a return on equity of 18.46%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. On average, analysts forecast that Smart Sand will post 0.92 earnings per share for the current fiscal year.

In other Smart Sand news, CEO Charles Edwin Young purchased 17,500 shares of Smart Sand stock in a transaction dated Thursday, June 13th. The shares were bought at an average cost of $2.86 per share, for a total transaction of $50,050.00. Following the transaction, the chief executive officer now owns 267,401 shares in the company, valued at approximately $764,766.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 47.80% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Clearbridge Investments LLC lifted its position in Smart Sand by 1.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,595,058 shares of the company’s stock valued at $11,548,000 after purchasing an additional 24,440 shares during the last quarter. BlackRock Inc. raised its position in shares of Smart Sand by 8.7% during the 2nd quarter. BlackRock Inc. now owns 1,586,643 shares of the company’s stock worth $3,871,000 after buying an additional 126,964 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Smart Sand by 44.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,350,913 shares of the company’s stock worth $3,296,000 after buying an additional 418,800 shares in the last quarter. LSV Asset Management raised its position in shares of Smart Sand by 426.7% during the 2nd quarter. LSV Asset Management now owns 837,944 shares of the company’s stock worth $2,044,000 after buying an additional 678,844 shares in the last quarter. Finally, Sprott Inc. raised its position in shares of Smart Sand by 20.0% during the 2nd quarter. Sprott Inc. now owns 600,000 shares of the company’s stock worth $1,464,000 after buying an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 33.84% of the company’s stock.

Smart Sand Company Profile

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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