Zacks Investment Research upgraded shares of Smart Sand Inc (NYSE:SND) from a sell rating to a hold rating in a research note released on Tuesday morning.
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. “
SND has been the subject of a number of other research reports. Piper Jaffray Companies reaffirmed a buy rating on shares of Smart Sand in a research note on Thursday, September 21st. Jefferies Group LLC set a $7.00 price objective on shares of Smart Sand and gave the company a buy rating in a research note on Monday, August 28th. BidaskClub cut shares of Smart Sand from a buy rating to a hold rating in a research note on Wednesday, October 18th. Credit Suisse Group cut shares of 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 note on Thursday, July 20th. Finally, Deutsche Bank AG initiated coverage on shares of Smart Sand in a research note on Tuesday, October 10th. They issued a buy rating and a $9.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Smart Sand presently has a consensus rating of Buy and an average price target of $13.07.
Smart Sand (NYSE:SND) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The business had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same period last year, the company posted ($0.11) EPS. Smart Sand’s revenue for the quarter was up 250.9% on a year-over-year basis. Equities research analysts expect that Smart Sand will post $0.32 EPS for the current year.
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In other news, VP Robert Kiszka purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the acquisition, the vice president now directly owns 110,629 shares of the company’s stock, valued at approximately $611,778.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Edwin Young purchased 100,000 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now directly owns 140,600 shares in the company, valued at $728,308. The disclosure for this purchase can be found here. Insiders have purchased a total of 132,000 shares of company stock valued at $685,960 over the last quarter.
A number of large investors have recently bought and sold shares of SND. Nationwide Fund Advisors raised its holdings in Smart Sand by 28.6% during the 1st quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after buying an additional 1,597 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Smart Sand by 47.5% during the 1st quarter. Bank of New York Mellon Corp now owns 132,644 shares of the company’s stock valued at $2,155,000 after buying an additional 42,729 shares during the last quarter. American International Group Inc. bought a new stake in Smart Sand during the 1st quarter valued at $116,000. Alliancebernstein L.P. bought a new stake in Smart Sand during the 1st quarter valued at $216,000. Finally, FMR LLC raised its holdings in Smart Sand by 8.3% during the 1st quarter. FMR LLC now owns 1,591,800 shares of the company’s stock valued at $25,867,000 after buying an additional 121,645 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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