Jefferies Group LLC Reiterates $7.00 Price Target for Smart Sand Inc (SND)
Smart Sand Inc (NYSE:SND) received a $7.00 target price from investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 25.45% from the stock’s previous close. Jefferies Group also issued estimates for Smart Sand’s Q3 2017 earnings at $0.10 EPS, Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.32 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.29 EPS and Q4 2018 earnings at $0.29 EPS.
A number of other analysts have also recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Credit Suisse Group cut Smart Sand from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $8.50 in a report on Thursday, July 20th. Zacks Investment Research cut Smart Sand from a “buy” rating to a “sell” rating in a report on Thursday, July 13th. Janney Montgomery Scott began coverage on Smart Sand in a report on Thursday, June 15th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $18.00 price objective (down previously from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $14.15.
Shares of Smart Sand (SND) opened at 5.58 on Monday. Smart Sand has a 52 week low of $4.81 and a 52 week high of $21.99. The stock has a 50 day moving average of $6.23 and a 200-day moving average of $11.39. The firm has a market capitalization of $225.28 million and a PE ratio of 11.75.
Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $29.79 million for the quarter, compared to analysts’ expectations of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business’s revenue for the quarter was up 250.9% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. Equities analysts anticipate that Smart Sand will post $0.30 earnings per share for the current fiscal year.
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In other Smart Sand news, CEO Charles Edwin Young bought 100,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were acquired at an average cost of $5.18 per share, for a total transaction of $518,000.00. Following the purchase, the chief executive officer now directly owns 140,600 shares of the company’s stock, valued at $728,308. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Lee E. Beckelman bought 20,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was acquired at an average price of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the purchase, the chief financial officer now directly owns 137,500 shares in the company, valued at $705,375. The disclosure for this purchase can be found here. Insiders acquired a total of 122,000 shares of company stock worth $630,660 over the last 90 days.
A number of institutional investors have recently made changes to their positions in the company. American International Group Inc. acquired a new position in shares of Smart Sand during the first quarter worth $116,000. Nationwide Fund Advisors raised its position in shares of Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after buying an additional 1,597 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Smart Sand during the first quarter worth $156,000. Quantbot Technologies LP acquired a new position in shares of Smart Sand during the first quarter worth $167,000. Finally, Royal Bank of Canada raised its position in shares of Smart Sand by 1,651.3% in the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock worth $101,000 after buying an additional 10,783 shares in the last quarter.
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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