Hi-Crush Partners LP (HCLP) Rating Reiterated by Cowen and Company
Hi-Crush Partners LP (NYSE:HCLP)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a research note issued on Sunday. They presently have a $12.00 target price on the basic materials company’s stock. Cowen and Company’s price objective indicates a potential upside of 32.60% from the company’s current price.
Several other analysts have also issued reports on the stock. BidaskClub lowered shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Wednesday. Janney Montgomery Scott assumed coverage on shares of Hi-Crush Partners in a research report on Wednesday, September 6th. They set a “neutral” rating and a $10.00 target price for the company. Jefferies Group LLC set a $15.00 target price on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, UBS AG dropped their price target on shares of Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $17.50.
Shares of Hi-Crush Partners (NYSE:HCLP) opened at 9.05 on Friday. The stock’s market capitalization is $823.82 million. The company’s 50 day moving average is $8.15 and its 200-day moving average is $12.24. Hi-Crush Partners has a 52 week low of $7.25 and a 52 week high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $135.22 million during the quarter, compared to analyst estimates of $138.61 million. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. The firm’s quarterly revenue was up 251.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) earnings per share. On average, equities analysts predict that Hi-Crush Partners will post $1.04 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of HCLP. Goldman Sachs Group Inc. boosted its position in shares of 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 worth $75,847,000 after purchasing an additional 2,027,256 shares during the period. Morgan Stanley lifted its holdings in shares of 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 worth $173,709,000 after buying an additional 1,633,971 shares in the last quarter. ING Groep NV lifted its holdings in shares of Hi-Crush Partners by 653.7% in the second quarter. ING Groep NV now owns 1,390,552 shares of the basic materials company’s stock worth $15,087,000 after buying an additional 1,206,058 shares in the last quarter. Bronson Point Management LLC purchased a new position in shares of Hi-Crush Partners in the first quarter worth $13,880,000. Finally, SG Capital Management LLC purchased a new position in shares of Hi-Crush Partners in the second quarter worth $6,630,000. Institutional investors and hedge funds own 50.67% 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.
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