Analysts at Evercore ISI started coverage on shares of Hi-Crush Partners LP (NYSE:HCLP) in a note issued to investors on Thursday, May 25th, Marketbeat.com reports. The firm set an “outperform” rating and a $22.00 price target on the basic materials company’s stock. Evercore ISI’s target price would suggest a potential upside of 109.52% from the company’s previous close.
A number of other analysts have also recently weighed in on the stock. Mizuho initiated coverage on shares of Hi-Crush Partners in a research report on Wednesday, May 3rd. They set a “buy” rating and a $20.00 price target for the company. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $30.00 price target (down from $32.00) on shares of Hi-Crush Partners in a research report on Tuesday, May 2nd. Guggenheim reaffirmed a “buy” rating on shares of Hi-Crush Partners in a research report on Monday, March 27th. Finally, Wunderlich raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $29.00 in a research report on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.88.
Shares of Hi-Crush Partners (NYSE:HCLP) opened at 10.50 on Thursday. The company’s 50 day moving average price is $13.38 and its 200-day moving average price is $16.95. The company’s market capitalization is $955.68 million. Hi-Crush Partners has a 52 week low of $10.20 and a 52 week high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings data on Monday, May 1st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. Hi-Crush Partners had a negative net margin of 15.15% and a negative return on equity of 9.38%. The company had revenue of $83.40 million for the quarter, compared to analysts’ expectations of $84.31 million. During the same period in the prior year, the firm earned ($0.48) earnings per share. The firm’s quarterly revenue was up 60.1% on a year-over-year basis. Analysts anticipate that Hi-Crush Partners will post $1.00 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of HCLP. Bank of New York Mellon Corp purchased a new position in shares of Hi-Crush Partners during the first quarter worth approximately $209,000. Lucas Capital Management purchased a new position in shares of Hi-Crush Partners during the first quarter worth approximately $260,000. ING Groep NV raised its position in shares of 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. Kornitzer Capital Management Inc. KS purchased a new position in shares of Hi-Crush Partners during the first quarter worth approximately $3,784,000. Finally, IFP Advisors Inc raised its position in shares of 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. Hedge funds and other institutional investors own 64.37% of the company’s stock.
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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