BidaskClub Lowers Smart Sand (SND) to Buy

BidaskClub lowered shares of Smart Sand (NASDAQ:SND) from a strong-buy rating to a buy rating in a report issued on Friday.

Several other equities research analysts have also recently commented on the stock. Piper Jaffray Companies set a $12.00 target price on shares of Smart Sand and gave the stock a buy rating in a research report on Wednesday, January 10th. TheStreet raised shares of Smart Sand from a d rating to a c- rating in a research report on Tuesday, January 2nd. Janney Montgomery Scott cut shares of Smart Sand from a buy rating to a neutral rating and set a $13.00 target price for the company. in a research report on Tuesday, January 2nd. Seaport Global Securities assumed coverage on shares of Smart Sand in a research report on Friday, December 8th. They issued a buy rating and a $15.00 target price for the company. Finally, Zacks Investment Research raised shares of Smart Sand from a hold rating to a buy rating and set a $8.50 target price for the company in a research report on Friday, November 17th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $12.80.

Shares of Smart Sand (SND) traded down $0.70 on Friday, reaching $8.77. 1,000,000 shares of the company’s stock traded hands, compared to its average volume of 685,380. Smart Sand has a fifty-two week low of $4.81 and a fifty-two week high of $21.99. The stock has a market cap of $328.06 and a PE ratio of 13.29.

Smart Sand (NASDAQ:SND) last posted its earnings results on Thursday, November 9th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. The firm had revenue of $39.33 million during the quarter, compared to analysts’ expectations of $33.60 million. During the same period last year, the company posted $0.06 EPS. The company’s quarterly revenue was up 259.8% compared to the same quarter last year. analysts expect that Smart Sand will post 0.41 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC lifted its position in Smart Sand by 22.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock valued at $291,000 after acquiring an additional 5,901 shares during the period. Royal Bank of Canada lifted its position in Smart Sand by 1,651.3% during the 2nd quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after acquiring an additional 10,783 shares during the period. Alliancebernstein L.P. lifted its position in Smart Sand by 83.5% during the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the company’s stock valued at $217,000 after acquiring an additional 11,100 shares during the period. Rhumbline Advisers lifted its position in Smart Sand by 103.1% during the 2nd quarter. Rhumbline Advisers now owns 21,979 shares of the company’s stock valued at $196,000 after acquiring an additional 11,157 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Smart Sand by 17.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 90,539 shares of the company’s stock valued at $614,000 after acquiring an additional 13,406 shares during the period. 49.77% of the stock is owned by institutional investors.

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About Smart Sand

Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.

Analyst Recommendations for Smart Sand (NASDAQ:SND)

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