Cowen and Company Increases U.S. Silica Holdings Inc. (SLCA) Price Target to $52.00
U.S. Silica Holdings Inc. (NYSE:SLCA) had its price objective raised by equities research analysts at Cowen and Company from $42.00 to $52.00 in a research report issued on Tuesday. The firm presently has an “outperform” rating on the mining company’s stock. Cowen and Company’s price objective would indicate a potential upside of 6.12% from the stock’s previous close.
Several other research firms have also recently weighed in on SLCA. Citigroup Inc. increased their price target on shares of U.S. Silica Holdings from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, September 12th. Scotiabank reissued a “sector perform” rating and issued a $35.00 price target (up from $32.00) on shares of U.S. Silica Holdings in a report on Thursday, August 4th. Raymond James Financial Inc. raised their target price on shares of U.S. Silica Holdings from $44.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Vetr cut shares of U.S. Silica Holdings from a “strong-buy” rating to a “buy” rating and set a $40.31 target price on the stock. in a report on Wednesday, August 3rd. Finally, Barclays PLC initiated coverage on shares of U.S. Silica Holdings in a report on Wednesday, August 10th. They set an “overweight” rating and a $50.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. U.S. Silica Holdings presently has an average rating of “Buy” and a consensus price target of $36.76.
U.S. Silica Holdings (NYSE:SLCA) opened at 49.00 on Tuesday. The stock has a 50 day moving average price of $43.01 and a 200-day moving average price of $33.64. U.S. Silica Holdings has a 1-year low of $13.54 and a 1-year high of $49.98. The company’s market capitalization is $3.12 billion.
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U.S. Silica Holdings (NYSE:SLCA) last released its quarterly earnings results on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.03. The firm had revenue of $117 million for the quarter, compared to analysts’ expectations of $114.53 million. U.S. Silica Holdings had a negative net margin of 6.70% and a negative return on equity of 7.76%. The business’s revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Equities analysts predict that U.S. Silica Holdings will post ($0.65) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.0625 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. U.S. Silica Holdings’s dividend payout ratio (DPR) is presently -39.06%.
In related news, SVP Don D. Weinheimer sold 30,000 shares of U.S. Silica Holdings stock in a transaction on Friday, August 19th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the transaction, the senior vice president now owns 38,130 shares of the company’s stock, valued at $1,601,460. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradford B. Casper sold 12,273 shares of U.S. Silica Holdings stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $45.81, for a total transaction of $562,226.13. Following the transaction, the executive vice president now directly 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.
Institutional investors have recently made changes to their positions in the company. Viking Fund Management increased its position in shares of U.S. Silica Holdings by 50.0% in the fourth quarter. Viking Fund Management now owns 510,000 shares of the mining company’s stock worth $9,552,000 after buying an additional 170,000 shares in the last quarter. Penn Capital Management Co. Inc. increased its position in shares of U.S. Silica Holdings by 39.3% in the fourth quarter. Penn Capital Management Co. Inc. now owns 724,531 shares of the mining company’s stock worth $13,570,000 after buying an additional 204,232 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of U.S. Silica Holdings by 887.3% in the fourth quarter. BlackRock Advisors LLC now owns 333,657 shares of the mining company’s stock worth $6,249,000 after buying an additional 299,863 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of U.S. Silica Holdings by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 406,427 shares of the mining company’s stock worth $7,612,000 after buying an additional 6,535 shares in the last quarter. Finally, Creative Planning increased its position in shares of U.S. Silica Holdings by 37.1% in the fourth quarter. Creative Planning now owns 58,878 shares of the mining company’s stock worth $1,103,000 after buying an additional 15,946 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.
About U.S. Silica Holdings
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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