Hi-Crush Partners (HCLP) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Hi-Crush Partners (NYSE:HCLP) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Hi-Crush should gain from acquisitions and continuous expansion actions. Its PropStream integrated logistics service is also providing cost savings and boosting efficiency. Hi-Crush is also progressing with its key growth projects. However, an expected decline in frac sand demand and slowdown in well completion activity is likely to hurt Hi-Crush’s margins. The partnership also faces headwind from pricing weakness in Northern White sand. Rising SG&A expenses are also affecting margins. Hi-Crush’s high-debt level is another concern. The partnership has also underperformed the industry it belongs to in the past three months.”
Several other equities analysts have also recently commented on HCLP. AltaCorp Capital cut Hi-Crush Partners from a sector perform rating to an underperform rating in a research note on Friday, November 2nd. Credit Suisse Group set a $6.00 price objective on Hi-Crush Partners and gave the stock a hold rating in a research note on Friday, November 2nd. ValuEngine cut Hi-Crush Partners from a hold rating to a sell rating in a research note on Tuesday, August 7th. TheStreet cut Hi-Crush Partners from a b- rating to a c+ rating in a research note on Wednesday, November 7th. Finally, Johnson Rice cut Hi-Crush Partners from an accumulate rating to a hold rating and set a $14.00 price objective on the stock. in a research note on Wednesday, October 3rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $11.73.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company had revenue of $213.97 million during the quarter, compared to analysts’ expectations of $212.11 million. Hi-Crush Partners had a return on equity of 24.52% and a net margin of 21.37%. The business’s revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, analysts forecast that Hi-Crush Partners will post 1.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 1st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 17.05%. The ex-dividend date was Wednesday, October 31st. Hi-Crush Partners’s dividend payout ratio (DPR) is presently 89.11%.
In related news, insider William E. Barker sold 9,444 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total transaction of $117,105.60. Following the transaction, the insider now directly owns 17,968 shares in the company, valued at $222,803.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 34.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Malaga Cove Capital LLC increased its position in Hi-Crush Partners by 13.1% in the third quarter. Malaga Cove Capital LLC now owns 118,544 shares of the basic materials company’s stock worth $1,292,000 after buying an additional 13,750 shares during the period. Van ECK Associates Corp increased its position in Hi-Crush Partners by 10.9% in the second quarter. Van ECK Associates Corp now owns 239,227 shares of the basic materials company’s stock worth $2,823,000 after buying an additional 23,590 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Hi-Crush Partners by 4.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 312,676 shares of the basic materials company’s stock worth $3,690,000 after buying an additional 14,400 shares during the period. Ingalls & Snyder LLC acquired a new stake in Hi-Crush Partners in the second quarter worth $198,000. Finally, Royce & Associates LP acquired a new stake in Hi-Crush Partners in the second quarter worth $1,134,000. 13.35% of the stock is currently owned by hedge funds and other institutional investors.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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