Smart Sand Inc (SND) Earns “Buy” Rating from Piper Jaffray Companies
Smart Sand Inc (NYSE:SND)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday.
Several other equities analysts also recently issued reports on SND. Zacks Investment Research upgraded shares of Smart Sand from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, May 24th. Evercore ISI began coverage on shares of Smart Sand in a report on Thursday, May 25th. They set an “in-line” rating and a $12.00 price objective on the stock. Janney Montgomery Scott began coverage on shares of Smart Sand in a report on Thursday, June 15th. They set a “buy” rating and a $13.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $15.00 price objective (down previously from $20.00) on shares of Smart Sand in a 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 company from $20.00 to $8.50 in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Smart Sand currently has an average rating of “Buy” and a consensus price target of $14.95.
Shares of Smart Sand (NYSE:SND) traded down 0.39% during mid-day trading on Monday, hitting $5.10. 952,963 shares of the stock were exchanged. Smart Sand has a 52-week low of $4.87 and a 52-week high of $21.99. The firm has a market cap of $205.73 million and a price-to-earnings ratio of 13.49. The stock has a 50-day moving average price of $7.09 and a 200 day moving average price of $12.27.
Smart Sand (NYSE:SND) last posted 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. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The company had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. During the same quarter last year, the company earned ($0.11) EPS. The business’s revenue was up 250.9% compared to the same quarter last year. On average, equities research analysts expect that Smart Sand will post $0.38 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Smart Sand during the first quarter valued at $35,404,000. Eagle Asset Management Inc. acquired a new position in shares of Smart Sand during the first quarter valued at $12,268,000. FMR LLC increased its position in shares of Smart Sand by 42.2% in the second quarter. FMR LLC now owns 2,263,470 shares of the company’s stock valued at $20,168,000 after buying an additional 671,670 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Smart Sand by 86.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after buying an additional 650,587 shares during the period. Finally, Sprott Inc. acquired a new position in shares of Smart Sand during the first quarter valued at $10,562,000.
About Smart Sand
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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