Smart Sand Inc (SND) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Smart Sand Inc (NYSE:SND) from a buy rating to a sell rating in a research report released on Thursday, July 13th.

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. “

Several other equities analysts have also recently issued reports on the company. Johnson Rice upgraded Smart Sand from an accumulate rating to a buy rating and lifted their price target for the company from $20.00 to $21.00 in a research report on Friday, March 17th. Jefferies Group LLC reiterated a buy rating and set a $22.00 price target on shares of Smart Sand in a research report on Friday, March 24th. Simmons lifted their price target on Smart Sand from $21.00 to $22.00 and gave the company an overweight rating in a research report on Tuesday, April 11th. Evercore ISI initiated coverage on Smart Sand in a research report on Thursday, May 25th. They set an in-line rating and a $12.00 price target on the stock. Finally, Deutsche Bank AG restated a buy rating and issued a $18.00 target price (down from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $14.95.

Shares of Smart Sand (NYSE SND) traded down 1.35% on Thursday, reaching $5.12. The company had a trading volume of 1,246,367 shares. The stock has a 50 day moving average price of $7.17 and a 200-day moving average price of $12.36. Smart Sand has a 12 month low of $5.01 and a 12 month high of $21.99. The company has a market capitalization of $206.54 million and a price-to-earnings ratio of 13.54.

Smart Sand (NYSE:SND) last announced its earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.03. The business had revenue of $29.79 million for the quarter, compared to the consensus estimate of $29.88 million. Smart Sand had a net margin of 3.87% and a return on equity of 2.51%. The firm’s revenue was up 250.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Analysts forecast that Smart Sand will post $0.42 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Smart Sand during the first quarter valued at approximately $35,404,000. FMR LLC acquired a new stake in shares of Smart Sand during the fourth quarter valued at approximately $24,331,000. Eagle Asset Management Inc. acquired a new stake in shares of Smart Sand during the first quarter valued at approximately $12,268,000. Goldman Sachs Group Inc. boosted its stake in shares of Smart Sand by 86.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after buying an additional 650,587 shares during the last quarter. Finally, Sprott Inc. purchased a new stake in Smart Sand during the first quarter worth approximately $10,562,000.

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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