Zacks Investment Research downgraded shares of Smart Sand (NASDAQ:SND) from a strong-buy rating to a hold rating in a research note issued to investors on Saturday 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 reports. Seaport Global Securities began coverage on shares of Smart Sand in a report on Friday, December 8th. They issued a buy rating and a $15.00 target price for the company. BidaskClub raised shares of Smart Sand from a buy rating to a strong-buy rating in a report on Thursday, January 25th. Piper Jaffray Companies set a $10.00 target price on shares of Smart Sand and gave the company a buy rating in a report on Sunday, November 12th. Credit Suisse Group upped their target price on shares of Smart Sand from $5.50 to $8.50 and gave the company a neutral rating in a report on Tuesday, November 14th. Finally, Jefferies Group cut shares of Smart Sand from a buy rating to a hold rating and set a $7.00 target price for the company. in a report on Wednesday, November 15th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $12.80.
Smart Sand (NASDAQ:SND) last announced its earnings results on Thursday, November 9th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.06 earnings per share. The business’s revenue was up 259.8% compared to the same quarter last year. analysts predict that Smart Sand will post 0.41 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Smart Sand by 1,651.3% during the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock worth $101,000 after purchasing an additional 10,783 shares in the last quarter. Fidelity National Financial Inc. purchased a new position in Smart Sand during the fourth quarter worth about $123,000. SG Americas Securities LLC purchased a new position in Smart Sand during the third quarter worth about $128,000. Fox Run Management L.L.C. purchased a new position in Smart Sand during the fourth quarter worth about $157,000. Finally, Chicago Equity Partners LLC purchased a new position in Smart Sand during the fourth quarter worth about $158,000. 49.73% of the stock is owned by hedge funds and other institutional investors.
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Smart Sand Company Profile
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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