Hi-Crush Partners LP (NYSE:HCLP) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
Several other research firms have also commented on HCLP. Jefferies Group LLC restated a “buy” rating and set a $30.00 price target on shares of Hi-Crush Partners in a research report on Tuesday, May 30th. Evercore ISI began coverage on Hi-Crush Partners in a report on Thursday, May 25th. They issued an “outperform” rating and a $22.00 target price for the company. ValuEngine lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Credit Suisse Group decreased their target price on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, July 20th. Finally, Johnson Rice began coverage on Hi-Crush Partners in a report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 target price for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Hi-Crush Partners presently has an average rating of “Hold” and a consensus price target of $17.50.
Shares of Hi-Crush Partners (NYSE HCLP) opened at 9.20 on Wednesday. The stock’s market capitalization is $837.48 million. The firm has a 50 day moving average price of $8.13 and a 200 day moving average price of $12.30. Hi-Crush Partners has a one year low of $7.25 and a one year high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The business had revenue of $135.22 million during the quarter, compared to analyst estimates of $138.61 million. During the same period last year, the business posted ($0.26) earnings per share. The company’s quarterly revenue was up 251.9% on a year-over-year basis. Analysts predict that Hi-Crush Partners will post $1.04 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in HCLP. Strid Group LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $109,000. S. Muoio & CO. LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $111,000. NEXT Financial Group Inc lifted its holdings in Hi-Crush Partners by 761.9% during the 2nd quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock worth $147,000 after buying an additional 12,000 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $157,000. Finally, Hodges Capital Management Inc. purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $163,000. 50.67% of the stock is owned by institutional investors.
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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