Smart Sand Inc (SND) Given a $10.00 Price Target by Piper Jaffray Companies Analysts
A number of other brokerages have also recently weighed in on SND. Zacks Investment Research upgraded Smart Sand from a sell rating to a hold rating in a report on Saturday, September 9th. Jefferies Group LLC set a $7.00 price objective on Smart Sand and gave the company a buy rating in a research report on Monday, August 28th. Credit Suisse Group lowered Smart Sand from an outperform rating to a neutral rating and cut their price objective for the company from $20.00 to $8.50 in a research report on Thursday, July 20th. BidaskClub raised Smart Sand from a sell rating to a hold rating in a research report on Thursday, September 14th. Finally, Deutsche Bank AG initiated coverage on Smart Sand in a research report on Tuesday, October 10th. They issued a buy rating and a $9.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $13.28.
Smart Sand (SND) traded down $0.10 during mid-day trading on Friday, hitting $8.49. The stock had a trading volume of 842,870 shares, compared to its average volume of 551,191. Smart Sand has a 1-year low of $4.81 and a 1-year high of $21.99.
Smart Sand (NYSE:SND) last issued its earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The firm had revenue of $39.33 million for the quarter, compared to analysts’ expectations of $33.60 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 259.8% compared to the same quarter last year.
In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $5.53 per share, with a total value of $55,300.00. Following the completion of the transaction, the vice president now owns 110,629 shares in the company, valued at $611,778.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Lee E. Beckelman bought 20,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the transaction, the chief financial officer now owns 137,500 shares of the company’s stock, valued at approximately $705,375. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 132,000 shares of company stock worth $685,960.
Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. purchased a new stake in shares of Smart Sand during the first quarter worth about $116,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Smart Sand during the first quarter worth about $156,000. Royal Bank of Canada increased its position in shares of Smart Sand by 1,651.3% during the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock worth $101,000 after acquiring an additional 10,783 shares during the last quarter. UBS Group AG increased its position in shares of Smart Sand by 472.6% during the first quarter. UBS Group AG now owns 12,826 shares of the company’s stock worth $209,000 after acquiring an additional 10,586 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Smart Sand during the first quarter worth about $216,000.
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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