Smart Sand Inc (SND) Rating Increased to Hold at Zacks Investment Research
Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
A number of other equities analysts have also weighed in on the stock. Jefferies Group LLC set a $7.00 price target on shares of Smart Sand and gave the company a “buy” rating in a report on Monday, August 28th. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $8.50 in a report on Thursday, July 20th. Janney Montgomery Scott began coverage on shares of Smart Sand in a report on Thursday, June 15th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price target (down previously from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $14.15.
Shares of Smart Sand (SND) opened at 5.86 on Friday. The stock has a market cap of $236.58 million and a price-to-earnings ratio of 12.34. The firm has a 50-day moving average price of $5.82 and a 200-day moving average price of $10.59. Smart Sand has a 12 month low of $4.81 and a 12 month high of $21.99.
Smart Sand (NYSE:SND) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $29.79 million during the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The firm’s revenue for the quarter was up 250.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. Equities analysts expect that Smart Sand will post $0.30 EPS for the current fiscal year.
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In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were acquired at an average price of $5.53 per share, with a total value of $55,300.00. Following the purchase, the vice president now owns 110,629 shares in the company, valued at approximately $611,778.37. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Lee E. Beckelman bought 20,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $5.13 per share, for a total transaction of $102,600.00. Following the purchase, the chief financial officer now owns 137,500 shares in the company, valued at approximately $705,375. The disclosure for this purchase can be found here. In the last three months, insiders bought 132,000 shares of company stock worth $685,960.
Hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Smart Sand by 1,651.3% in 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. American International Group Inc. purchased a new position in shares of Smart Sand in the 1st quarter valued at $116,000. Nationwide Fund Advisors raised its stake in shares of Smart Sand by 28.6% in the 1st quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after acquiring an additional 1,597 shares during the period. Wall Street Access Asset Management LLC raised its stake in shares of Smart Sand by 19.6% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock valued at $147,000 after acquiring an additional 2,705 shares during the period. Finally, Metropolitan Life Insurance Co. NY purchased a new position in shares of Smart Sand in the 1st quarter valued at $156,000.
Smart Sand Company Profile
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.
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