Hi-Crush Partners LP (HCLP) Downgraded by Zacks Investment Research to Sell

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.

WARNING: This report was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this report can be read at https://transcriptdaily.com/2017/07/18/hi-crush-partners-lp-hclp-downgraded-by-zacks-investment-research-to-sell.html.

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.

Get a free copy of the Zacks research report on Hi-Crush Partners (HCLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hi-Crush Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply