Hi-Crush Partners LP (NYSE:HCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
Several other research firms also recently commented on HCLP. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Hi-Crush Partners in a report on Tuesday, April 11th. Mizuho assumed coverage on Hi-Crush Partners in a report on Wednesday, May 3rd. They set a “buy” rating and a $20.00 price target for the company. Evercore ISI assumed coverage on Hi-Crush Partners in a report on Thursday, May 25th. They set an “outperform” rating and a $22.00 price target for the company. ValuEngine downgraded Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Finally, Credit Suisse Group cut their price target on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Hi-Crush Partners presently has an average rating of “Buy” and a consensus price target of $19.91.
Hi-Crush Partners (NYSE HCLP) traded up 2.03% during mid-day trading on Tuesday, reaching $7.55. 1,215,888 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $8.93 and a 200 day moving average price of $13.87. The company’s market cap is $687.28 million. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $135.22 million during the quarter, compared to the consensus estimate of $138.61 million. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The firm’s revenue for the quarter was up 251.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. Equities analysts predict that Hi-Crush Partners will post $1.00 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Round Table Services LLC purchased a new stake in Hi-Crush Partners during the first quarter worth $257,000. Selz Capital LLC increased its stake in Hi-Crush Partners by 37.9% in the first quarter. Selz Capital LLC now owns 200,079 shares of the basic materials company’s stock worth $3,471,000 after buying an additional 55,000 shares in the last quarter. IFP Advisors Inc increased its stake in Hi-Crush Partners by 391.5% in the first quarter. IFP Advisors Inc now owns 11,938 shares of the basic materials company’s stock worth $207,000 after buying an additional 9,509 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in Hi-Crush Partners during the first quarter worth $3,784,000. Finally, ING Groep NV increased its stake in Hi-Crush Partners by 125.8% in the first quarter. ING Groep NV now owns 184,494 shares of the basic materials company’s stock worth $3,201,000 after buying an additional 102,800 shares in the last quarter. 68.54% of the stock is owned by 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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