Smart Sand Inc (SND) Raised to “Hold” at BidaskClub
Smart Sand Inc (NYSE:SND) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.
A number of other analysts also recently issued reports on the company. Deutsche Bank AG reissued a “buy” rating and set a $18.00 price objective (down from $21.00) on shares of Smart Sand in a research report on Tuesday, May 30th. Credit Suisse Group downgraded Smart Sand from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $8.50 in a research report on Thursday, July 20th. Zacks Investment Research cut Smart Sand from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating and set a $15.00 target price (down from $20.00) on shares of Smart Sand in a report on Monday, June 26th. Finally, Janney Montgomery Scott initiated coverage on Smart Sand in a report on Thursday, June 15th. They set a “buy” rating and a $13.00 target price for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $14.15.
Smart Sand (NYSE SND) traded up 3.6492% on Thursday, reaching $6.7372. 82,370 shares of the company traded hands. Smart Sand has a 52-week low of $5.82 and a 52-week high of $21.99. The stock has a 50-day moving average of $6.16 and a 200 day moving average of $14.29. The company has a market capitalization of $271.99 million and a PE ratio of 14.1836.
Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The firm’s revenue for the quarter was up 250.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, equities analysts forecast that Smart Sand will post $0.31 EPS for the current year.
In other news, CEO Charles Edwin Young purchased 100,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $5.18 per share, for a total transaction of $518,000.00. Following the completion of the purchase, the chief executive officer now directly owns 140,600 shares of the company’s stock, valued at approximately $728,308. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee E. Beckelman purchased 20,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average price of $5.13 per share, with a total value 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. Insiders have acquired 132,000 shares of company stock valued at $685,960 over the last 90 days.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted 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 worth $20,168,000 after buying an additional 671,670 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Smart Sand in the first quarter worth about $35,404,000. Goldman Sachs Group Inc. boosted 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 worth $22,833,000 after buying an additional 650,587 shares during the period. Citigroup Inc. boosted its position in shares of Smart Sand by 0.5% in the second quarter. Citigroup Inc. now owns 1,300,206 shares of the company’s stock worth $11,585,000 after buying an additional 6,416 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in shares of Smart Sand by 46.8% in the second quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock worth $9,872,000 after buying an additional 353,021 shares during the period.
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.
Receive News & Ratings for Smart Sand Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smart Sand Inc and related companies with MarketBeat.com's FREE daily email newsletter.