Barclays downgraded shares of Hi-Crush Partners (NYSE:HCLP) from an equal weight rating to an underweight rating in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has $5.00 target price on the basic materials company’s stock.
A number of other equities analysts have also recently commented on HCLP. Zacks Investment Research cut Hi-Crush Partners from a hold rating to a sell rating in a report on Thursday, October 25th. AltaCorp Capital cut Hi-Crush Partners from an outperform rating to a sector perform rating in a report on Tuesday, October 16th. B. Riley boosted their price target on Hi-Crush Partners from $17.00 to $18.00 and gave the stock a buy rating in a report on Tuesday, July 24th. ValuEngine raised Hi-Crush Partners from a sell rating to a hold rating in a report on Tuesday, July 24th. Finally, Seaport Global Securities set a $16.00 price target on Hi-Crush Partners and gave the stock a buy rating in a report on Thursday, October 18th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $12.93.
Shares of NYSE:HCLP traded down $0.66 during trading on Friday, reaching $6.85. 3,679,658 shares of the company traded hands, compared to its average volume of 2,427,638. The company has a market cap of $690.93 million, a price-to-earnings ratio of 3.20 and a beta of 1.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 2.70. Hi-Crush Partners has a 52 week low of $6.71 and a 52 week high of $16.65.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Hi-Crush Partners had a return on equity of 24.52% and a net margin of 21.37%. The company had revenue of $213.97 million during the quarter, compared to analysts’ expectations of $212.11 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Hi-Crush Partners’s revenue was up 27.7% on a year-over-year basis. Research analysts predict that Hi-Crush Partners will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.90 dividend on an annualized basis and a yield of 13.14%. Hi-Crush Partners’s payout ratio is presently 89.11%.
In other Hi-Crush Partners news, insider William E. Barker sold 9,444 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the transaction, the insider now owns 17,968 shares of the company’s stock, valued at approximately $222,803.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William E. Barker sold 12,367 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $12.90, for a total value of $159,534.30. The disclosure for this sale can be found here. 34.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in Hi-Crush Partners in the 3rd quarter worth about $212,000. Usca Ria LLC acquired a new position in Hi-Crush Partners in the 3rd quarter worth about $214,000. Wells Fargo & Company MN increased its holdings in Hi-Crush Partners by 31.6% in the 3rd quarter. Wells Fargo & Company MN now owns 108,060 shares of the basic materials company’s stock worth $1,167,000 after purchasing an additional 25,943 shares in the last quarter. Alps Advisors Inc. acquired a new position in Hi-Crush Partners in the 3rd quarter worth about $423,000. Finally, Foundry Partners LLC acquired a new position in Hi-Crush Partners in the 3rd quarter worth about $1,996,000. 24.90% of the stock is owned by institutional investors and hedge funds.
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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