Barclays set a $13.00 target price on Hi-Crush Partners (NYSE:HCLP) in a research report sent to investors on Wednesday morning. The firm currently has a hold rating on the basic materials company’s stock.
Several other equities analysts have also commented on the stock. ValuEngine upgraded shares of Hi-Crush Partners from a sell rating to a hold rating in a research note on Thursday, June 21st. B. Riley increased their price target on shares of Hi-Crush Partners from $17.00 to $18.00 and gave the company a buy rating in a research note on Tuesday, July 24th. Zacks Investment Research lowered shares of Hi-Crush Partners from a buy rating to a hold rating in a research note on Monday, July 23rd. Credit Suisse Group lowered shares of Hi-Crush Partners from an outperform rating to a neutral rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Wednesday, October 3rd. Finally, Johnson Rice lowered shares of Hi-Crush Partners from an accumulate rating to a hold rating and set a $14.00 price target on the stock. in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $15.13.
Shares of HCLP stock traded down $0.23 during trading hours on Wednesday, reaching $10.24. 1,720,991 shares of the stock were exchanged, compared to its average volume of 1,896,375. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.47 and a current ratio of 1.85. Hi-Crush Partners has a 12-month low of $8.60 and a 12-month high of $16.65. The firm has a market capitalization of $954.64 million, a price-to-earnings ratio of 10.14 and a beta of 1.35.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Tuesday, July 31st. The basic materials company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.10). Hi-Crush Partners had a return on equity of 24.51% and a net margin of 22.92%. The firm had revenue of $248.52 million for the quarter, compared to analysts’ expectations of $250.12 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 83.8% on a year-over-year basis. Equities analysts forecast that Hi-Crush Partners will post 2.49 EPS for the current fiscal year.
In other Hi-Crush Partners news, insider William E. Barker sold 12,367 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $12.90, for a total value of $159,534.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William E. Barker sold 9,444 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the sale, the insider now directly owns 17,968 shares of the company’s stock, valued at approximately $222,803.20. The disclosure for this sale can be found here. 34.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of Hi-Crush Partners in the second quarter valued at $167,000. Ingalls & Snyder LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $198,000. First National Trust Co purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $238,000. Ladenburg Thalmann Financial Services Inc. increased its position in Hi-Crush Partners by 213.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,278 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 23,343 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $434,000. Institutional investors and hedge funds own 24.26% of the company’s stock.
About Hi-Crush Partners
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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