Zacks Investment Research upgraded shares of Hi-Crush Partners (NYSE:HCLP) from a sell rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Hi-Crush Partners LP engages in the production of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. The Company reserves consist of Northern White sand, a resource existing in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves and related excavation and processing facilities. Hi-Crush Partners LP is based in Houston, Texas. “

HCLP has been the subject of several other reports. Piper Jaffray Companies initiated coverage on Hi-Crush Partners in a research report on Monday, September 25th. They set an overweight rating and a $11.75 price target for the company. BidaskClub raised Hi-Crush Partners from a hold rating to a buy rating in a research report on Tuesday, September 26th. Johnson Rice raised Hi-Crush Partners from an accumulate rating to a buy rating and set a $15.00 price objective for the company in a research report on Monday, December 4th. ValuEngine raised Hi-Crush Partners from a hold rating to a buy rating in a research report on Wednesday, January 3rd. Finally, Barclays initiated coverage on Hi-Crush Partners in a research report on Friday, December 15th. They issued an equal weight rating and a $12.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $16.15.

Shares of Hi-Crush Partners (NYSE:HCLP) traded down $0.75 during midday trading on Tuesday, reaching $12.00. The company had a trading volume of 2,617,900 shares, compared to its average volume of 1,845,260. Hi-Crush Partners has a 1 year low of $7.25 and a 1 year high of $23.30. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1,110.00, a PE ratio of 37.50 and a beta of 0.96.

Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The company had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. During the same period last year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was up 259.9% on a year-over-year basis. sell-side analysts forecast that Hi-Crush Partners will post 0.97 earnings per share for the current fiscal year.

Hi-Crush Partners announced that its board has authorized a stock buyback program on Tuesday, October 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Large investors have recently added to or reduced their stakes in the stock. Malaga Cove Capital LLC lifted its holdings in Hi-Crush Partners by 27.1% during the 3rd quarter. Malaga Cove Capital LLC now owns 83,019 shares of the basic materials company’s stock worth $791,000 after purchasing an additional 17,721 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Hi-Crush Partners during the 3rd quarter worth approximately $15,200,000. L & S Advisors Inc lifted its holdings in Hi-Crush Partners by 161.9% during the 3rd quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 83,200 shares during the last quarter. TVR Capital Management LP acquired a new stake in Hi-Crush Partners during the 2nd quarter worth approximately $667,000. Finally, Clear Harbor Asset Management LLC lifted its holdings in Hi-Crush Partners by 69.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock worth $7,563,000 after purchasing an additional 326,414 shares during the last quarter. 43.88% of the stock is owned by institutional investors and hedge funds.

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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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Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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