Zacks Investment Research cut shares of Hi-Crush Partners LP (NYSE:HCLP) from a hold rating to a sell rating in a report published on Wednesday.
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. “
A number of other equities research analysts also recently weighed in on HCLP. Guggenheim reaffirmed a buy rating on shares of Hi-Crush Partners in a report on Monday, March 27th. UBS AG raised Hi-Crush Partners from a neutral rating to a buy rating and raised their target price for the company from $22.00 to $23.00 in a report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a buy rating and issued a $32.00 target price on shares of Hi-Crush Partners in a report on Tuesday, April 11th. Mizuho initiated coverage on Hi-Crush Partners in a report on Wednesday, May 3rd. They issued a buy rating and a $20.00 target price on the stock. Finally, Evercore ISI initiated coverage on Hi-Crush Partners in a report on Thursday, May 25th. They issued an outperform rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and an average target price of $22.30.
Shares of Hi-Crush Partners (HCLP) opened at 10.05 on Wednesday. The firm’s market cap is $914.72 million. Hi-Crush Partners has a 52 week low of $9.00 and a 52 week high of $23.30. The company has a 50-day moving average price of $12.47 and a 200 day moving average price of $16.40.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Monday, May 1st. The basic materials company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.04. The business had revenue of $83.40 million during the quarter, compared to analyst estimates of $84.31 million. Hi-Crush Partners had a negative net margin of 15.15% and a negative return on equity of 9.38%. The company’s revenue for the quarter was up 60.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.48) EPS. Analysts expect that Hi-Crush Partners will post $0.94 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of HCLP. Sanders Morris Harris LLC acquired a new position in Hi-Crush Partners during the second quarter valued at $200,000. Sprott Inc. raised its position in Hi-Crush Partners by 11.9% in the second quarter. Sprott Inc. now owns 1,175,000 shares of the basic materials company’s stock valued at $12,749,000 after buying an additional 125,000 shares during the period. NEXT Financial Group Inc raised its position in Hi-Crush Partners by 761.9% in the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock valued at $147,000 after buying an additional 12,000 shares during the period. Hellman Jordan Management Co. Inc. MA acquired a new position in Hi-Crush Partners during the second quarter valued at $774,000. Finally, Pointe Capital Management LLC acquired a new position in Hi-Crush Partners during the first quarter valued at $1,209,000. 65.47% of the stock is owned by hedge funds and other institutional investors.
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.
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