Piper Jaffray Companies Reaffirms “Buy” Rating for U.S. Silica Holdings, Inc. (SLCA)
Piper Jaffray Companies reiterated their buy rating on shares of U.S. Silica Holdings, Inc. (NYSE:SLCA) in a research report report published on Friday. Piper Jaffray Companies currently has a $40.50 target price on the mining company’s stock.
A number of other analysts have also recently weighed in on the stock. BidaskClub raised shares of U.S. Silica Holdings from a sell rating to a hold rating in a report on Wednesday, July 19th. Citigroup Inc. raised their price objective on shares of U.S. Silica Holdings from $39.00 to $41.00 and gave the stock a buy rating in a report on Friday. KeyCorp reissued an overweight rating and set a $40.00 price objective on shares of U.S. Silica Holdings in a report on Wednesday, October 4th. Cowen and Company cut their price objective on shares of U.S. Silica Holdings from $60.00 to $40.00 and set an outperform rating on the stock in a report on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of U.S. Silica Holdings from a hold rating to a strong sell rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $47.84.
Shares of U.S. Silica Holdings (SLCA) opened at $35.52 on Friday. The firm has a market cap of $2,885.22, a P/E ratio of 39.03 and a beta of 2.29. U.S. Silica Holdings has a 1-year low of $24.26 and a 1-year high of $61.49. The company has a quick ratio of 4.88, a current ratio of 3.67 and a debt-to-equity ratio of 0.39.
U.S. Silica Holdings (NYSE:SLCA) last issued its earnings results on Monday, November 6th. The mining company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The firm had revenue of $345.00 million for the quarter, compared to analysts’ expectations of $328.91 million. U.S. Silica Holdings had a net margin of 6.24% and a return on equity of 5.73%. The firm’s revenue was up 150.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. equities analysts forecast that U.S. Silica Holdings will post 1.52 EPS for the current year.
U.S. Silica Holdings declared that its board has authorized a share repurchase plan on Monday, November 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the mining company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.063 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.25 dividend on an annualized basis and a yield of 0.71%. U.S. Silica Holdings’s dividend payout ratio (DPR) is 31.25%.
Large investors have recently bought and sold shares of the stock. Winch Advisory Services LLC grew its position in U.S. Silica Holdings by 109.0% in the 2nd quarter. Winch Advisory Services LLC now owns 4,127 shares of the mining company’s stock valued at $146,000 after buying an additional 2,152 shares during the last quarter. Riverhead Capital Management LLC grew its position in U.S. Silica Holdings by 69.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,226 shares of the mining company’s stock valued at $150,000 after buying an additional 1,726 shares during the last quarter. Verde Servicos Internacionais S.A. purchased a new position in U.S. Silica Holdings in the 3rd quarter valued at $201,000. First Heartland Consultants Inc. purchased a new position in U.S. Silica Holdings in the 2nd quarter valued at $213,000. Finally, Everence Capital Management Inc. grew its position in U.S. Silica Holdings by 20.5% in the 2nd quarter. Everence Capital Management Inc. now owns 6,050 shares of the mining company’s stock valued at $215,000 after buying an additional 1,030 shares during the last quarter.
About U.S. Silica Holdings
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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