Hi-Crush Partners LP (HCLP) Upgraded to “Hold” at Zacks Investment Research

Hi-Crush Partners LP (NYSE:HCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, August 8th.

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. “

Other equities research analysts have also issued research reports about the stock. Johnson Rice started coverage on shares of Hi-Crush Partners in a research note on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price target on the stock. UBS AG dropped their price target on shares of Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Mizuho began coverage on shares of Hi-Crush Partners in a research note on Wednesday, May 3rd. They set a “buy” rating and a $20.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price objective (down previously from $32.00) on shares of Hi-Crush Partners in a research note on Tuesday, May 2nd. Finally, Credit Suisse Group lowered their price objective on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Hi-Crush Partners has an average rating of “Buy” and an average price target of $19.91.

Shares of Hi-Crush Partners (NYSE HCLP) traded up 2.03% during midday trading on Tuesday, hitting $7.55. The company’s stock had a trading volume of 1,215,888 shares. The firm’s market cap is $687.28 million. Hi-Crush Partners has a 12-month low of $7.25 and a 12-month high of $23.30. The firm has a 50-day moving average of $8.93 and a 200 day moving average of $13.87.

Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. The company had revenue of $135.22 million for the quarter, compared to analyst estimates of $138.61 million. During the same quarter last year, the business earned ($0.26) earnings per share. Hi-Crush Partners’s revenue was up 251.9% compared to the same quarter last year. On average, equities research analysts predict that Hi-Crush Partners will post $1.00 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Barnett & Company Inc. raised its position in Hi-Crush Partners by 6.7% in the first quarter. Barnett & Company Inc. now owns 17,445 shares of the basic materials company’s stock worth $303,000 after buying an additional 1,100 shares in the last quarter. California Public Employees Retirement System raised its position in Hi-Crush Partners by 0.4% in the first quarter. California Public Employees Retirement System now owns 280,700 shares of the basic materials company’s stock worth $4,870,000 after buying an additional 1,200 shares in the last quarter. Principal Financial Group Inc. raised its position in Hi-Crush Partners by 11.0% in the second quarter. Principal Financial Group Inc. now owns 30,720 shares of the basic materials company’s stock worth $333,000 after buying an additional 3,053 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Hi-Crush Partners by 36.4% in the second quarter. Deprince Race & Zollo Inc. now owns 15,000 shares of the basic materials company’s stock worth $163,000 after buying an additional 4,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Hi-Crush Partners by 70.1% in the second quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock worth $222,000 after buying an additional 8,431 shares during the period. 68.54% of the stock is owned by hedge funds and other institutional investors.

About Hi-Crush Partners

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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Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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