Hi-Crush Partners LP (NYSE:HCLP) Price Target Cut to $12.00

Hi-Crush Partners LP (NYSE:HCLP) had its target price decreased by stock analysts at Credit Suisse Group from $24.00 to $12.00 in a report released on Thursday. The firm presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 14.83% from the company’s current price.

Other analysts have also recently issued reports about the company. Johnson Rice initiated coverage on Hi-Crush Partners in a research report on Friday, June 23rd. They set an “accumulate” rating and a $17.00 price target on the stock. Mizuho initiated coverage on Hi-Crush Partners in a research report on Wednesday, May 3rd. They set a “buy” rating and a $20.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price target on shares of Hi-Crush Partners in a research report on Tuesday, May 30th. UBS AG upgraded Hi-Crush Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $23.00 in a research report on Tuesday, April 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Hi-Crush Partners in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.36.

Shares of Hi-Crush Partners (HCLP) traded down 9.330% on Thursday, hitting $9.475. The company’s stock had a trading volume of 1,801,407 shares. The company has a 50 day moving average of $10.91 and a 200 day moving average of $15.54. Hi-Crush Partners has a 1-year low of $9.00 and a 1-year high of $23.30. The firm’s market cap is $862.39 million.

Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Monday, May 1st. The basic materials company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $83.40 million for the quarter, compared to analyst estimates of $84.31 million. Hi-Crush Partners had a negative return on equity of 9.38% and a negative net margin of 15.15%. The firm’s revenue for the quarter was up 60.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.48) earnings per share. Equities analysts forecast that Hi-Crush Partners will post $0.94 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in Hi-Crush Partners by 19.5% in the first quarter. Morgan Stanley now owns 10,011,999 shares of the basic materials company’s stock valued at $173,709,000 after buying an additional 1,633,971 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Hi-Crush Partners by 86.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock valued at $75,847,000 after buying an additional 2,027,256 shares in the last quarter. FMR LLC boosted its stake in Hi-Crush Partners by 1.1% in the fourth quarter. FMR LLC now owns 1,525,283 shares of the basic materials company’s stock valued at $30,200,000 after buying an additional 16,900 shares in the last quarter. Sprott Inc. boosted its stake 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 in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Hi-Crush Partners by 107.5% in the first quarter. SG Americas Securities LLC now owns 1,056,518 shares of the basic materials company’s stock valued at $18,331,000 after buying an additional 547,468 shares in the last quarter. Hedge funds and other institutional investors own 65.47% 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.

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

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