Shares of Hi-Crush Partners LP (NYSE:HCLP) have been given an average rating of “Buy” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.58.
HCLP has been the subject of several recent analyst reports. 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 note on Monday, August 28th. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Credit Suisse Group lowered their target price on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, July 20th. Cowen and Company reaffirmed a “buy” rating and issued a $12.00 target price on shares of Hi-Crush Partners in a research note on Sunday, September 17th. Finally, Piper Jaffray Companies initiated coverage on shares of Hi-Crush Partners in a research note on Monday, September 25th. They issued an “overweight” rating and a $11.75 target price for the company.
Hi-Crush Partners (HCLP) traded up 6.00% during trading on Thursday, reaching $10.60. 1,862,905 shares of the company were exchanged. The firm’s market cap is $964.92 million. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The firm has a 50-day moving average of $9.59 and a 200-day moving average of $10.59.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. The firm had revenue of $167.58 million during the quarter, compared to the consensus estimate of $168.95 million. During the same period in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 259.9% on a year-over-year basis. On average, equities analysts forecast that Hi-Crush Partners will post $1.00 EPS for the current year.
Hi-Crush Partners declared that its Board of Directors has approved a stock buyback program on Tuesday, October 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Monday, October 30th.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Strid Group LLC acquired a new position in Hi-Crush Partners during the second quarter worth $109,000. S. Muoio & CO. LLC acquired a new position in Hi-Crush Partners during the second quarter worth $111,000. NEXT Financial Group Inc boosted its holdings in Hi-Crush Partners by 761.9% during the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 12,000 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in Hi-Crush Partners during the second quarter worth $157,000. Finally, Hodges Capital Management Inc. acquired a new position in Hi-Crush Partners during the second quarter worth $163,000. Institutional investors and hedge funds own 50.59% 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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