Citigroup Inc. Raises U.S. Silica Holdings Inc. (SLCA) Price Target to $57.00
U.S. Silica Holdings Inc. (NYSE:SLCA) had its target price upped by investment analysts at Citigroup Inc. from $48.00 to $57.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup Inc.’s price objective points to a potential upside of 16.33% from the company’s current price.
Several other brokerages also recently commented on SLCA. Scotiabank reaffirmed a “sector perform” rating and issued a $35.00 target price (up previously from $32.00) on shares of U.S. Silica Holdings in a research note on Thursday, August 4th. Raymond James Financial Inc. increased their price objective on shares of U.S. Silica Holdings from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Vetr downgraded shares of U.S. Silica Holdings from a “strong-buy” rating to a “buy” rating and set a $40.31 price objective for the company. in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of U.S. Silica Holdings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays PLC initiated coverage on shares of U.S. Silica Holdings in a research report on Wednesday, August 10th. They set an “overweight” rating and a $50.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.17.
U.S. Silica Holdings (NYSE:SLCA) traded down 1.20% during midday trading on Tuesday, hitting $48.41. 699,727 shares of the company traded hands. U.S. Silica Holdings has a 12-month low of $13.54 and a 12-month high of $49.98. The stock’s 50-day moving average is $43.01 and its 200-day moving average is $33.64. The firm’s market capitalization is $3.08 billion.
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U.S. Silica Holdings (NYSE:SLCA) last issued its earnings results on Tuesday, August 2nd. The mining company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.03. U.S. Silica Holdings had a negative net margin of 6.70% and a negative return on equity of 7.76%. The firm earned $117 million during the quarter, compared to the consensus estimate of $114.53 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 20.7% on a year-over-year basis. Analysts anticipate that U.S. Silica Holdings will post ($0.65) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 13th. U.S. Silica Holdings’s dividend payout ratio is presently -39.06%.
In other news, COO Michael L. Winkler sold 64,123 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $42.00, for a total transaction of $2,693,166.00. Following the completion of the sale, the chief operating officer now owns 57,674 shares in the company, valued at approximately $2,422,308. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bradford B. Casper sold 12,273 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $45.81, for a total transaction of $562,226.13. Following the sale, the executive vice president now owns 18,699 shares of the company’s stock, valued at approximately $856,601.19. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. HL Financial Services LLC boosted its stake in U.S. Silica Holdings by 0.8% in the second quarter. HL Financial Services LLC now owns 12,712 shares of the mining company’s stock worth $438,000 after buying an additional 98 shares in the last quarter. ProShare Advisors LLC boosted its stake in U.S. Silica Holdings by 1.6% in the second quarter. ProShare Advisors LLC now owns 14,533 shares of the mining company’s stock worth $501,000 after buying an additional 233 shares in the last quarter. Barnett & Company Inc. boosted its stake in U.S. Silica Holdings by 1.3% in the first quarter. Barnett & Company Inc. now owns 25,180 shares of the mining company’s stock worth $572,000 after buying an additional 325 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in U.S. Silica Holdings by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the mining company’s stock worth $969,000 after buying an additional 600 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in U.S. Silica Holdings by 1.9% in the second quarter. Arizona State Retirement System now owns 32,938 shares of the mining company’s stock worth $1,135,000 after buying an additional 600 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.
U.S. Silica Holdings Company Profile
U.S. Silica Holdings, Inc (U.S. Silica) is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, the Company serves the oil and gas recovery market providing fracturing sand, or frac sand.
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