Solaris Oilfield Infrastructure, Inc. (NYSE:SOI)‘s stock had its “buy” rating reissued by equities research analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Monday, November 6th. They currently have a $20.00 price target on the stock. Oppenheimer Holdings, Inc.’s price target points to a potential upside of 18.41% from the stock’s previous close. Oppenheimer also issued estimates for Solaris Oilfield Infrastructure’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.31 EPS and FY2019 earnings at $1.78 EPS.
Several other research firms also recently commented on SOI. Zacks Investment Research raised Solaris Oilfield Infrastructure from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, September 29th. Piper Jaffray Companies reissued a “buy” rating and issued a $19.00 price objective on shares of Solaris Oilfield Infrastructure in a research note on Sunday, November 5th. Johnson Rice reissued a “buy” rating and issued a $19.00 price objective on shares of Solaris Oilfield Infrastructure in a research note on Monday, September 11th. Raymond James Financial, Inc. downgraded Solaris Oilfield Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 11th. Finally, Citigroup Inc. cut Solaris Oilfield Infrastructure to a “market perform” rating in a report on Wednesday, October 11th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.68.
Solaris Oilfield Infrastructure (NYSE SOI) traded up $0.13 during trading on Monday, reaching $16.89. The company’s stock had a trading volume of 420,021 shares, compared to its average volume of 487,230. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.78 and a current ratio of 7.44. Solaris Oilfield Infrastructure has a 1-year low of $9.90 and a 1-year high of $18.42.
In related news, CFO Kyle S. Ramachandran sold 140,048 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $15.04, for a total transaction of $2,106,321.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Howard Keenan, Jr. sold 2,660,201 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $15.04, for a total value of $40,009,423.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,925,926 shares of company stock valued at $59,045,927.
Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund acquired a new stake in Solaris Oilfield Infrastructure in the 2nd quarter valued at about $123,000. Parametric Portfolio Associates LLC acquired a new stake in Solaris Oilfield Infrastructure in the 2nd quarter valued at about $125,000. Alliancebernstein L.P. acquired a new stake in Solaris Oilfield Infrastructure in the 2nd quarter valued at about $125,000. ClariVest Asset Management LLC acquired a new stake in Solaris Oilfield Infrastructure in the 3rd quarter valued at about $146,000. Finally, Sei Investments Co. acquired a new stake in Solaris Oilfield Infrastructure in the 3rd quarter valued at about $152,000. 58.44% of the stock is currently owned by institutional investors.
About Solaris Oilfield Infrastructure
Solaris Oilfield Infrastructure, Inc manufactures and provides its mobile proppant management systems that unload, store and deliver proppant at oil and natural gas well sites. The Company offers its services to oil and natural gas exploration and production (E&P) companies, as well as oilfield service companies.
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