Cowen and Company Raises U.S. Silica Holdings Inc. (SLCA) Price Target to $52.00
U.S. Silica Holdings Inc. (NYSE:SLCA) had its target price increased by equities research analysts at Cowen and Company from $42.00 to $52.00 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the mining company’s stock. Cowen and Company’s price target points to a potential upside of 6.12% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $41.00 price objective on shares of U.S. Silica Holdings in a research report on Tuesday, July 19th. DA Davidson downgraded shares of U.S. Silica Holdings from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Monday, June 13th. They noted that the move was a valuation call. Citigroup Inc. upped their price objective on shares of U.S. Silica Holdings from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research raised shares of U.S. Silica Holdings from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Saturday, August 20th. Finally, Barclays PLC assumed 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 target price for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. U.S. Silica Holdings currently has a consensus rating of “Buy” and a consensus target price of $36.76.
U.S. Silica Holdings (NYSE:SLCA) opened at 49.00 on Tuesday. U.S. Silica Holdings has a one year low of $13.54 and a one year high of $49.98. The stock has a 50 day moving average price of $43.01 and a 200 day moving average price of $33.64. The company’s market cap is $3.12 billion.
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U.S. Silica Holdings (NYSE:SLCA) last issued its quarterly earnings data on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $117 million during the quarter, compared to the consensus estimate of $114.53 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Silica Holdings will post ($0.65) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 15th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend 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 (DPR) is currently -39.06%.
In related news, COO Michael L. Winkler sold 64,123 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 57,674 shares of the company’s stock, valued at approximately $2,422,308. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David D. Murry sold 6,352 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $45.00, for a total transaction of $285,840.00. Following the transaction, the senior vice president now directly owns 14,839 shares in the company, valued at approximately $667,755. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its position in U.S. Silica Holdings by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,480,389 shares of the mining company’s stock valued at $33,634,000 after buying an additional 213,617 shares in the last quarter. Teachers Advisors Inc. raised its position in U.S. Silica Holdings by 10.7% in the first quarter. Teachers Advisors Inc. now owns 94,910 shares of the mining company’s stock valued at $2,156,000 after buying an additional 9,149 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in U.S. Silica Holdings during the second quarter valued at approximately $2,919,000. JPMorgan Chase & Co. raised its position in U.S. Silica Holdings by 26,916.1% in the first quarter. JPMorgan Chase & Co. now owns 223,423 shares of the mining company’s stock valued at $5,076,000 after buying an additional 222,596 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in U.S. Silica Holdings during the first quarter valued at approximately $1,136,000. 97.26% of the stock is currently owned by institutional investors.
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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