Hi-Crush Partners LP (HCLP) Given a $15.00 Price Target by Jefferies Group LLC Analysts
Hi-Crush Partners LP (NYSE:HCLP) has been assigned a $15.00 price objective by analysts at Jefferies Group LLC in a research note issued on Thursday. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Group LLC’s target price points to a potential upside of 63.04% from the stock’s previous close.
A number of other analysts have also recently commented on the company. ValuEngine upgraded Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub upgraded Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies assumed coverage on Hi-Crush Partners in a research report on Monday, September 25th. They issued an “overweight” rating and a $11.75 price target for the company. Cowen and Company restated a “buy” rating and issued a $12.00 price target on shares of Hi-Crush Partners in a research report on Sunday, September 17th. Finally, Janney Montgomery Scott assumed coverage on Hi-Crush Partners in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $10.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Hi-Crush Partners currently has a consensus rating of “Buy” and a consensus price target of $16.58.
Shares of Hi-Crush Partners (NYSE HCLP) traded down 7.54% during midday trading on Thursday, reaching $9.20. The company had a trading volume of 3,857,530 shares. The stock’s market capitalization is $837.48 million. The company’s 50-day moving average is $8.82 and its 200-day moving average is $11.49. Hi-Crush Partners has a 1-year low of $7.25 and a 1-year high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $138.61 million. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The business’s quarterly revenue was up 251.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share. On average, equities research analysts forecast that Hi-Crush Partners will post $1.03 EPS for the current year.
Several large investors have recently added to or reduced their stakes in HCLP. Goldman Sachs Group Inc. grew its position in shares of Hi-Crush Partners by 86.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock worth $75,847,000 after purchasing an additional 2,027,256 shares in the last quarter. Morgan Stanley grew its position in shares of Hi-Crush Partners by 19.5% during the first quarter. Morgan Stanley now owns 10,011,999 shares of the basic materials company’s stock worth $173,709,000 after purchasing an additional 1,633,971 shares in the last quarter. ING Groep NV grew its position in shares of Hi-Crush Partners by 653.7% during the second quarter. ING Groep NV now owns 1,390,552 shares of the basic materials company’s stock worth $15,087,000 after purchasing an additional 1,206,058 shares in the last quarter. Bronson Point Management LLC purchased a new stake in shares of Hi-Crush Partners during the first quarter worth about $13,880,000. Finally, SG Capital Management LLC purchased a new stake in shares of Hi-Crush Partners during the second quarter worth about $6,630,000. Hedge funds and other institutional investors own 51.23% 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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