Credit Suisse Group set a $6.00 price objective on Hi-Crush Partners (NYSE:HCLP) in a research report report published on Friday. The brokerage currently has a hold rating on the basic materials company’s stock.
Several other brokerages also recently commented on HCLP. Johnson Rice downgraded Hi-Crush Partners from a buy rating to an accumulate rating and set a $18.00 target price for the company. in a report on Monday, August 20th. AltaCorp Capital lowered Hi-Crush Partners from an outperform rating to a sector perform rating in a research report on Tuesday, October 16th. Jefferies Financial Group lowered Hi-Crush Partners from a hold rating to an underperform rating and set a $6.00 price target on the stock. in a research report on Wednesday, October 17th. Seaport Global Securities set a $16.00 price target on Hi-Crush Partners and gave the company a buy rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies set a $10.00 price target on Hi-Crush Partners and gave the company a hold rating in a research report on Tuesday, October 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Hi-Crush Partners currently has an average rating of Hold and a consensus target price of $12.73.
Shares of NYSE HCLP opened at $6.20 on Friday. Hi-Crush Partners has a 12 month low of $6.19 and a 12 month high of $16.65. The firm has a market cap of $690.93 million, a PE ratio of 6.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.70 and a quick ratio of 2.18.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate 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 business had revenue of $213.97 million during the quarter, compared to the consensus estimate of $212.11 million. During the same period in the prior year, the business posted $0.32 earnings per share. Hi-Crush Partners’s revenue was up 27.7% compared to the same quarter last year. On average, research analysts anticipate that Hi-Crush Partners will post 1.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Thursday, November 1st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 14.52%. The ex-dividend date is Wednesday, October 31st. Hi-Crush Partners’s payout ratio is 89.11%.
In related news, insider William E. Barker sold 9,444 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total transaction of $117,105.60. Following the transaction, the insider now directly owns 17,968 shares of the company’s stock, valued at $222,803.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William E. Barker sold 12,367 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were 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 currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in shares of Hi-Crush Partners in the 3rd quarter valued at $124,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Hi-Crush Partners in the 3rd quarter worth $212,000. Usca Ria LLC bought a new position in shares of Hi-Crush Partners in the 3rd quarter worth $214,000. Wells Fargo & Company MN boosted its position in shares of 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 during the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Hi-Crush Partners in the 3rd quarter worth $423,000. 23.89% of the stock is currently owned by institutional investors.
Hi-Crush Partners Company Profile
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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