Smart Sand Inc (NYSE:SND) has received a consensus rating of “Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and seven 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 $13.07.
Several research analysts have weighed in on SND shares. Jefferies Group LLC set a $7.00 price objective on Smart Sand and gave the stock a “buy” rating in a research report on Monday, August 28th. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a research report on Thursday, September 21st. Zacks Investment Research cut Smart Sand from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub cut Smart Sand from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group cut Smart Sand from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $8.50 in a research report on Thursday, July 20th.
Smart Sand (NYSE:SND) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period in the prior year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 250.9% on a year-over-year basis.
In other news, CEO Charles Edwin Young purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average price of $5.18 per share, with a total value of $518,000.00. Following the transaction, the chief executive officer now directly owns 140,600 shares of the company’s stock, valued at $728,308. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert Kiszka purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the transaction, the vice president now directly owns 110,629 shares in the company, valued at $611,778.37. The disclosure for this purchase can be found here. Insiders have bought a total of 132,000 shares of company stock worth $685,960 in the last ninety days.
Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. lifted its position in shares of Smart Sand by 46.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock valued at $9,872,000 after buying an additional 353,021 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Smart Sand during the 2nd quarter valued at $1,249,000. Vanguard Group Inc. lifted its position in shares of Smart Sand by 113.5% during the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock valued at $12,292,000 after buying an additional 402,123 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Smart Sand by 86.2% during the 1st 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, Morgan Stanley lifted its position in shares of Smart Sand by 176.7% during the 1st quarter. Morgan Stanley now owns 105,869 shares of the company’s stock valued at $1,720,000 after buying an additional 67,604 shares during the last quarter.
About Smart Sand
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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