Other equities analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $12.00 target price on shares of Hi-Crush Partners and gave the stock a buy rating in a research note on Tuesday. Janney Montgomery Scott began coverage on shares of Hi-Crush Partners in a research note on Wednesday, September 6th. They set a neutral rating and a $10.00 target price for the company. Cowen and Company lowered their target price on shares of Hi-Crush Partners from $22.00 to $12.00 and set an outperform rating for the company in a research note on Friday, August 4th. They noted that the move was a valuation call. BidaskClub downgraded shares of Hi-Crush Partners from a buy rating to a hold rating in a research note on Tuesday, October 17th. Finally, ValuEngine raised shares of Hi-Crush Partners from a sell rating to a hold rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $16.60.
Shares of Hi-Crush Partners (NYSE HCLP) traded up $0.15 during midday trading on Wednesday, reaching $10.30. 1,582,470 shares of the company were exchanged, compared to its average volume of 2,104,559. The company has a quick ratio of 1.33, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The firm has a market cap of $919.41 million, a P/E ratio of 31.56 and a beta of 0.99.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The firm had revenue of $167.58 million for the quarter, compared to the consensus estimate of $168.95 million. During the same period in the prior year, the business earned ($0.21) EPS. Hi-Crush Partners’s quarterly revenue was up 259.9% on a year-over-year basis. equities research analysts anticipate that Hi-Crush Partners will post 1.09 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Monday, October 30th. Hi-Crush Partners’s payout ratio is 187.51%.
Hi-Crush Partners declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of HCLP. Bank of New York Mellon Corp acquired a new position in shares of Hi-Crush Partners during the first quarter valued at about $209,000. Principal Financial Group Inc. grew its holdings in shares of Hi-Crush Partners by 14.0% during the first quarter. Principal Financial Group Inc. now owns 27,667 shares of the basic materials company’s stock valued at $480,000 after buying an additional 3,401 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Hi-Crush Partners by 0.4% during the first quarter. California Public Employees Retirement System now owns 280,700 shares of the basic materials company’s stock valued at $4,870,000 after buying an additional 1,200 shares during the last quarter. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Hi-Crush Partners during the second quarter valued at about $774,000. Finally, NEXT Financial Group Inc grew its holdings in shares of 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 valued at $147,000 after buying an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors 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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