Smart Sand Inc (SND) Receives Consensus Rating of “Buy” from Analysts
Smart Sand Inc (NYSE:SND) has been given an average recommendation of “Buy” by the twelve research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.81.
Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Smart Sand from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of Smart Sand from a “sell” rating to a “hold” rating in a research report on Saturday, September 9th. Janney Montgomery Scott assumed coverage on shares of Smart Sand in a research report on Thursday, June 15th. They set a “buy” rating and a $13.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $15.00 price objective (down from $20.00) on shares of Smart Sand in a research report on Monday, June 26th. Finally, Credit Suisse Group downgraded shares of Smart Sand from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $8.50 in a research report on Thursday, July 20th.
Shares of Smart Sand (NYSE SND) traded down 3.85% during trading on Friday, reaching $6.74. The company had a trading volume of 624,625 shares. Smart Sand has a 12 month low of $5.82 and a 12 month high of $21.99. The company has a market cap of $272.11 million and a price-to-earnings ratio of 11.23. The firm has a 50 day moving average price of $6.80 and a 200 day moving average price of $6.80.
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 the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The company’s revenue was up 250.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) earnings per share. Analysts predict that Smart Sand will post $0.31 earnings per share for the current year.
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In other Smart Sand news, CEO Charles Edwin Young bought 100,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were bought at an average cost of $5.18 per share, with a total value of $518,000.00. Following the completion of the acquisition, the chief executive officer now owns 140,600 shares of the company’s stock, valued at $728,308. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Lee E. Beckelman bought 20,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 137,500 shares of the company’s stock, valued at approximately $705,375. The disclosure for this purchase can be found here. Insiders have bought 132,000 shares of company stock worth $685,960 over the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Smart Sand by 42.2% during the second quarter. FMR LLC now owns 2,263,470 shares of the company’s stock worth $20,168,000 after purchasing an additional 671,670 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Smart Sand by 86.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock worth $22,833,000 after purchasing an additional 650,587 shares during the period. Citigroup Inc. increased its holdings in shares of Smart Sand by 0.5% during the second quarter. Citigroup Inc. now owns 1,300,206 shares of the company’s stock worth $11,585,000 after purchasing an additional 6,416 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of Smart Sand by 46.8% during the second quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock worth $9,872,000 after purchasing an additional 353,021 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Smart Sand by 16.2% during the second quarter. Vanguard Group Inc. now owns 878,645 shares of the company’s stock worth $7,829,000 after purchasing an additional 122,188 shares during the period.
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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