Hi-Crush Partners LP (HCLP) Cut to “Strong Sell” at BidaskClub
Hi-Crush Partners LP (NYSE:HCLP) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
HCLP has been the topic of several other reports. Credit Suisse Group lowered their target price on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, July 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $30.00 target price (down from $32.00) on shares of Hi-Crush Partners in a research note on Tuesday, May 2nd. Mizuho started coverage on Hi-Crush Partners in a research note on Wednesday, May 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Evercore ISI started coverage on Hi-Crush Partners in a research note on Thursday, May 25th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Zacks Investment Research downgraded Hi-Crush Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $19.91.
Shares of Hi-Crush Partners (NYSE HCLP) traded up 2.03% during midday trading on Friday, reaching $7.55. The company had a trading volume of 1,215,888 shares. The company’s 50 day moving average price is $8.93 and its 200 day moving average price is $13.87. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The stock’s market capitalization is $687.28 million.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The company had revenue of $135.22 million for the quarter, compared to the consensus estimate of $138.61 million. During the same period last year, the business posted ($0.26) EPS. The company’s revenue was up 251.9% on a year-over-year basis. Equities research analysts expect that Hi-Crush Partners will post $1.00 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of HCLP. IFP Advisors Inc increased its stake in Hi-Crush Partners by 391.5% in the first quarter. IFP Advisors Inc now owns 11,938 shares of the basic materials company’s stock worth $207,000 after buying an additional 9,509 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in Hi-Crush Partners during the first quarter worth approximately $3,784,000. ING Groep NV increased its stake in Hi-Crush Partners by 125.8% in the first quarter. ING Groep NV now owns 184,494 shares of the basic materials company’s stock worth $3,201,000 after buying an additional 102,800 shares during the last quarter. Lucas Capital Management purchased a new stake in Hi-Crush Partners during the first quarter worth approximately $260,000. Finally, Bank of New York Mellon Corp purchased a new stake in Hi-Crush Partners during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 68.54% of the company’s stock.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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