Hi-Crush Partners Lowered to Neutral at Zacks (HCLP)
Hi-Crush Partners (NASDAQ:HCLP) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a $72.10 target price on the stock. Zacks‘s price target indicates a potential upside of 13.99% from the company’s current price.
Hi-Crush Partners (NASDAQ:HCLP) traded down 0.38% during mid-day trading on Friday, hitting $63.25. The stock had a trading volume of 232,455 shares. Hi-Crush Partners has a 52 week low of $21.62 and a 52 week high of $69.25. The stock has a 50-day moving average of $62.71 and a 200-day moving average of $47.11. The company has a market cap of $2.095 billion and a P/E ratio of 29.23.
Hi-Crush Partners (NASDAQ:HCLP) last released its earnings data on Tuesday, August 5th. The company reported $0.75 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.75. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate of $80.42 million. During the same quarter last year, the company posted $0.53 earnings per share. Hi-Crush Partners’s revenue was up 119.9% compared to the same quarter last year. Analysts expect that Hi-Crush Partners will post $3.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, July 30th. This is an increase from Hi-Crush Partners’s previous quarterly dividend of $0.53.
HCLP has been the subject of a number of other recent research reports. Analysts at Wunderlich reiterated a “hold” rating on shares of Hi-Crush Partners in a research note on Wednesday. They now have a $66.00 price target on the stock, up previously from $65.00. Separately, analysts at Ladenburg Thalmann downgraded shares of Hi-Crush Partners from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $51.51.
Hi Crush Partners LP, formerly Hi-Crush Partners LP, is a domestic producer of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells.
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