Hi-Crush Partners (HCLP) Research Coverage Started at Seaport Global Securities
Equities researchers at Seaport Global Securities initiated coverage on shares of Hi-Crush Partners (NYSE:HCLP) in a report released on Friday. The brokerage set a “buy” rating on the basic materials company’s stock.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $12.00 price objective on Hi-Crush Partners and gave the stock a “buy” rating in a research report on Tuesday, October 31st. B. Riley assumed coverage on Hi-Crush Partners in a research report on Wednesday. They set a “buy” rating and a $16.00 price objective for the company. Janney Montgomery Scott assumed coverage on Hi-Crush Partners in a research report on Wednesday, September 6th. They set a “neutral” rating and a $10.00 price objective for the company. BidaskClub cut Hi-Crush Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, ValuEngine raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.36.
Shares of Hi-Crush Partners (HCLP) opened at $10.10 on Friday. Hi-Crush Partners has a 1 year low of $7.25 and a 1 year high of $23.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.29. The stock has a market capitalization of $910.31, a PE ratio of 31.25 and a beta of 0.94.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings data 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 company had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s revenue was up 259.9% compared to the same quarter last year. research analysts anticipate that Hi-Crush Partners will post 0.97 earnings per share for the current year.
Hi-Crush Partners announced that its board has approved a stock repurchase plan on Tuesday, October 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ninepoint Partners LP acquired a new stake in shares of Hi-Crush Partners in the 3rd quarter valued at approximately $15,200,000. Evergreen Capital Management LLC purchased a new position in Hi-Crush Partners in the 2nd quarter valued at approximately $970,000. TVR Capital Management LP purchased a new position in Hi-Crush Partners in the 2nd quarter valued at approximately $667,000. Clear Harbor Asset Management LLC increased its stake in Hi-Crush Partners by 69.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock valued at $7,563,000 after purchasing an additional 326,414 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Hi-Crush Partners by 123.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 402,000 shares of the basic materials company’s stock valued at $4,362,000 after purchasing an additional 222,000 shares in the last quarter. 44.03% of the stock is owned by institutional investors and hedge funds.
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About Hi-Crush Partners
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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