Hi-Crush Partners LP (NYSE:HCLP) dropped 6% during mid-day trading on Tuesday . The stock traded as low as $10.05 and last traded at $10.20. Approximately 2,010,700 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 1,868,227 shares. The stock had previously closed at $10.85.

HCLP has been the subject of several analyst reports. Cowen set a $12.00 target price on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Wednesday, October 18th. Barclays initiated coverage on shares of Hi-Crush Partners in a report on Friday. They issued an “equal weight” rating and a $12.00 target price for the company. BidaskClub upgraded shares of Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Seaport Global Securities initiated coverage on shares of Hi-Crush Partners in a report on Friday, December 8th. They issued a “buy” rating and a $17.00 target price for the company. Finally, TheStreet raised shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.08.

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 1.77. The company has a market capitalization of $974.03, a PE ratio of 33.44 and a beta of 0.94.

Hi-Crush Partners (NYSE:HCLP) last posted its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The business had revenue of $167.58 million for the quarter, compared to analysts’ expectations of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The company’s revenue for the quarter was up 259.9% on a year-over-year basis. During the same period last year, the business posted ($0.21) EPS. analysts expect that Hi-Crush Partners LP will post 0.97 EPS for the current year.

Hi-Crush Partners declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 17th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Hi-Crush Partners in the 3rd quarter worth approximately $129,000. Griffin Asset Management Inc. acquired a new stake in Hi-Crush Partners in the 3rd quarter worth approximately $316,000. L & S Advisors Inc boosted its stake in Hi-Crush Partners by 161.9% in the 3rd quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 83,200 shares in the last quarter. Southport Management L.L.C. boosted its stake in Hi-Crush Partners by 50.0% in the 3rd quarter. Southport Management L.L.C. now owns 30,000 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Hi-Crush Partners by 103.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 29,460 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 14,960 shares in the last quarter. 43.87% of the stock is currently owned by hedge funds and other institutional investors.

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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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