Smart Sand Inc (SND) Lifted to Hold at Zacks Investment Research
Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
A number of other equities analysts have also commented on SND. Jefferies Group LLC set a $20.00 price target on Smart Sand and gave the stock a “buy” rating in a report on Sunday, May 14th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Janney Montgomery Scott assumed coverage on Smart Sand in a report on Thursday, June 15th. They issued a “buy” rating and a $13.00 price target for the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 price target (down from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. Finally, Evercore ISI assumed coverage on Smart Sand in a report on Thursday, May 25th. They issued an “in-line” rating and a $12.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $14.15.
Shares of Smart Sand (SND) opened at 5.86 on Friday. The company has a 50 day moving average of $5.82 and a 200-day moving average of $10.59. Smart Sand has a 52 week low of $4.81 and a 52 week high of $21.99. The company has a market cap of $236.58 million and a price-to-earnings ratio of 12.34.
Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by $0.03. The company had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The business’s revenue for the quarter was up 250.9% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts expect that Smart Sand will post $0.30 earnings per share for the current fiscal year.
In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $5.53 per share, with a total value of $55,300.00. Following the completion of the purchase, the vice president now directly owns 110,629 shares of the company’s stock, valued at $611,778.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee E. Beckelman bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the purchase, the chief financial officer now directly owns 137,500 shares of the company’s stock, valued at $705,375. The disclosure for this purchase can be found here. In the last quarter, insiders bought 132,000 shares of company stock worth $685,960.
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Smart Sand by 86.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after acquiring an additional 650,587 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Smart Sand during the 1st quarter valued at approximately $35,404,000. Wells Fargo & Company MN boosted its position in Smart Sand by 38.3% during the 1st quarter. Wells Fargo & Company MN now owns 97,159 shares of the company’s stock valued at $1,579,000 after acquiring an additional 26,926 shares in the last quarter. Vanguard Group Inc. boosted its position in Smart Sand by 113.5% during the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock valued at $12,292,000 after acquiring an additional 402,123 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in Smart Sand by 28.6% during the 1st quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after acquiring an additional 1,597 shares in the last quarter.
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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