Hi-Crush Partners LP (NYSE:HCLP) Downgraded by BidaskClub to Sell
BidaskClub lowered shares of Hi-Crush Partners LP (NYSE:HCLP) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
Several other research firms also recently commented on HCLP. Jefferies Group LLC reissued a buy rating and issued a $32.00 target price on shares of Hi-Crush Partners in a research report on Tuesday, April 11th. UBS AG upgraded shares of Hi-Crush Partners from a neutral rating to a buy rating and boosted their price objective for the stock from $22.00 to $23.00 in a research note on Tuesday, April 4th. Zacks Investment Research cut shares of Hi-Crush Partners from a strong-buy rating to a hold rating in a research note on Tuesday, April 25th. Mizuho began coverage on shares of Hi-Crush Partners in a research note on Wednesday, May 3rd. They issued a buy rating and a $20.00 price objective for the company. Finally, Evercore ISI began coverage on shares of Hi-Crush Partners in a research note on Thursday, May 25th. They issued an outperform rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $21.36.
Shares of Hi-Crush Partners (NYSE HCLP) traded down 0.898% during trading on Thursday, hitting $8.275. 398,624 shares of the stock were exchanged. Hi-Crush Partners has a 12-month low of $7.95 and a 12-month high of $23.30. The stock’s market cap is $753.17 million. The stock’s 50 day moving average is $10.09 and its 200-day moving average is $15.03.
Hi-Crush Partners (NYSE:HCLP) last posted its earnings results on Monday, May 1st. The basic materials company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $83.40 million during the quarter, compared to the consensus estimate of $84.31 million. Hi-Crush Partners had a negative return on equity of 9.38% and a negative net margin of 15.15%. The business’s revenue was up 60.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.48) earnings per share. Equities research analysts anticipate that Hi-Crush Partners will post $0.97 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in Hi-Crush Partners by 761.9% in the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock valued at $147,000 after buying an additional 12,000 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Hi-Crush Partners during the first quarter valued at approximately $191,000. Sanders Morris Harris LLC bought a new position in Hi-Crush Partners during the second quarter valued at approximately $200,000. IFP Advisors Inc boosted its position in Hi-Crush Partners by 391.5% in the first quarter. IFP Advisors Inc now owns 11,938 shares of the basic materials company’s stock valued at $207,000 after buying an additional 9,509 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Hi-Crush Partners during the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 67.16% of the company’s stock.
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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