Smart Sand Inc (SND) Rating Lowered to Hold at Jefferies Group LLC

Smart Sand Inc (NASDAQ:SND) was downgraded by equities research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They presently have a $7.00 price objective on the stock. Jefferies Group LLC’s price objective would indicate a potential downside of 9.44% from the company’s previous close.

Several other analysts have also recently weighed in on SND. Credit Suisse Group cut shares of Smart Sand from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Smart Sand in a research report on Monday, August 14th. Zacks Investment Research raised shares of Smart Sand from a “sell” rating to a “hold” rating in a research report on Saturday, September 9th. BidaskClub raised shares of Smart Sand from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Finally, Deutsche Bank AG initiated coverage on shares of Smart Sand in a research report on Tuesday, October 10th. They set a “buy” rating and a $9.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.28.

Shares of Smart Sand (NASDAQ:SND) opened at $7.73 on Wednesday. Smart Sand has a one year low of $4.81 and a one year high of $21.99. The firm has a market cap of $340.11 and a P/E ratio of 12.57.

Smart Sand (NASDAQ:SND) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.07. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. The business had revenue of $39.33 million during the quarter, compared to analysts’ expectations of $33.60 million. During the same quarter in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 259.8% on a year-over-year basis. analysts anticipate that Smart Sand will post 0.33 earnings per share for the current year.

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In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of Smart Sand stock in a transaction on Friday, August 25th. The shares were 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 in the company, valued at $611,778.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Several institutional investors and hedge funds have recently made changes to their positions in SND. Royal Bank of Canada raised its holdings in shares of Smart Sand by 1,651.3% in the 2nd quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after purchasing an additional 10,783 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Smart Sand in the 1st quarter valued at $116,000. SG Americas Securities LLC acquired a new stake in shares of Smart Sand in the 3rd quarter valued at $128,000. Wall Street Access Asset Management LLC raised its holdings in shares of Smart Sand by 19.6% in the 2nd quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock valued at $147,000 after purchasing an additional 2,705 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Smart Sand in the 1st quarter valued at $156,000. Institutional investors and hedge funds own 56.41% of the company’s stock.

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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