Hi-Crush Partners (NYSE:HCLP) has been assigned a $12.00 target price by equities research analysts at Piper Jaffray Companies in a note issued to investors on Friday. The firm currently has a “buy” rating on the basic materials company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 15.94% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Cowen reissued a “buy” rating and issued a $12.00 target price on shares of Hi-Crush Partners in a report on Sunday, September 17th. Jefferies Group set a $15.00 target price on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Thursday, October 5th. TheStreet raised shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a report on Wednesday, November 1st. Finally, Seaport Global Securities began coverage on shares of Hi-Crush Partners in a report on Friday, December 8th. They issued a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. Hi-Crush Partners presently has an average rating of “Buy” and a consensus price target of $16.08.
Hi-Crush Partners (HCLP) opened at $10.35 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. Hi-Crush Partners has a 1-year low of $7.25 and a 1-year high of $23.30. The firm has a market cap of $914.86, a P/E ratio of 32.34 and a beta of 0.94.
Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The firm had revenue of $167.58 million for the quarter, compared to analysts’ expectations of $168.95 million. During the same period in the prior year, the firm earned ($0.21) EPS. Hi-Crush Partners’s revenue for the quarter was up 259.9% compared to the same quarter last year. equities research analysts forecast that Hi-Crush Partners will post 0.97 EPS for the current fiscal year.
Hi-Crush Partners announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in HCLP. GSA Capital Partners LLP bought a new position in Hi-Crush Partners during the third quarter valued at $129,000. Griffin Asset Management Inc. bought a new position in Hi-Crush Partners during the third quarter valued at $316,000. L & S Advisors Inc increased its position in Hi-Crush Partners by 161.9% during the third quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 83,200 shares during the last quarter. Southport Management L.L.C. increased its position in Hi-Crush Partners by 50.0% during the third quarter. Southport Management L.L.C. now owns 30,000 shares of the basic materials company’s stock valued at $285,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Hi-Crush Partners by 103.2% during the third quarter. Pinnacle Associates Ltd. now owns 29,460 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 14,960 shares during the last quarter. Institutional investors own 43.87% of the company’s stock.
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.
Receive News & Ratings for Hi-Crush Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners and related companies with MarketBeat.com's FREE daily email newsletter.