Hi-Crush Partners LP (NYSE:HCLP) received a $12.00 price target from analysts at Cowen and Company in a report issued on Wednesday, October 18th. The brokerage currently has a “buy” rating on the basic materials company’s stock. Cowen and Company’s target price indicates a potential upside of 14.29% from the company’s current price.
A number of other brokerages have also recently weighed in on HCLP. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub cut shares of Hi-Crush Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. 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. ValuEngine raised shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies assumed coverage on shares of Hi-Crush Partners in a research report on Monday, September 25th. They issued an “overweight” rating and a $11.75 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $16.60.
Hi-Crush Partners (HCLP) traded up $0.20 during trading on Wednesday, reaching $10.50. 2,679,223 shares of the company’s stock traded hands, compared to its average volume of 2,100,000. The firm has a market capitalization of $942.17, a P/E ratio of 32.19 and a beta of 1.02. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.29.
Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results 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). The business had revenue of $167.58 million during the quarter, compared to analyst estimates of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The company’s revenue for the quarter was up 259.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. equities research analysts forecast that Hi-Crush Partners will post 1.06 EPS for the current year.
Hi-Crush Partners announced that its board has authorized a stock buyback program on Tuesday, October 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Strid Group LLC acquired a new stake in shares of Hi-Crush Partners during the second quarter worth $109,000. S. Muoio & CO. LLC acquired a new stake in shares of Hi-Crush Partners during the second quarter worth $111,000. Bank of New York Mellon Corp acquired a new stake in shares of Hi-Crush Partners during the first quarter worth $209,000. NEXT Financial Group Inc increased its position in shares of Hi-Crush Partners by 761.9% during the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock worth $147,000 after buying an additional 12,000 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in Hi-Crush Partners in the second quarter worth $157,000. Institutional investors own 50.16% of the company’s stock.
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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