Hi-Crush Partners (HCLP) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Hi-Crush Partners (NYSE:HCLP) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other research firms have also issued reports on HCLP. Johnson Rice upgraded Hi-Crush Partners from an accumulate rating to a buy rating and set a $15.00 target price for the company in a report on Monday, December 4th. Barclays began coverage on shares of Hi-Crush Partners in a research note on Friday, December 15th. They issued an equal weight rating and a $12.00 price target on the stock. Piper Jaffray Companies set a $12.00 price target on shares of Hi-Crush Partners and gave the stock a buy rating in a research note on Tuesday, October 31st. B. Riley began coverage on shares of Hi-Crush Partners in a research note on Wednesday, December 6th. They issued a buy rating and a $16.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Hi-Crush Partners from a hold rating to a sell rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $16.08.

Shares of Hi-Crush Partners (NYSE HCLP) opened at $11.40 on Wednesday. The stock has a market capitalization of $1,040.00, a price-to-earnings ratio of 35.63 and a beta of 0.96. Hi-Crush Partners has a 1-year low of $7.25 and a 1-year high of $23.30. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). The business had revenue of $167.58 million during the quarter, compared to analysts’ expectations of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. Hi-Crush Partners’s revenue for the quarter was up 259.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) EPS. sell-side analysts expect that Hi-Crush Partners will post 0.97 EPS for the current fiscal year.

Hi-Crush Partners declared that its board has authorized a share buyback program on Tuesday, October 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Malaga Cove Capital LLC increased its position in Hi-Crush Partners by 27.1% during the third quarter. Malaga Cove Capital LLC now owns 83,019 shares of the basic materials company’s stock worth $791,000 after buying an additional 17,721 shares during the last quarter. Ninepoint Partners LP acquired a new position in Hi-Crush Partners during the third quarter worth $15,200,000. L & S Advisors Inc increased its position in Hi-Crush Partners by 161.9% during the third quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock worth $1,278,000 after buying an additional 83,200 shares during the last quarter. TVR Capital Management LP acquired a new position in Hi-Crush Partners during the second quarter worth $667,000. Finally, Clear Harbor Asset Management LLC increased its position in Hi-Crush Partners by 69.5% during the third quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock worth $7,563,000 after buying an additional 326,414 shares during the last quarter. 43.87% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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