Smart Sand Inc (SND) PT Set at $7.00 by Jefferies Group LLC
Smart Sand Inc (NYSE:SND) received a $7.00 price objective from research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s target price suggests a potential upside of 3.86% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Smart Sand from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Credit Suisse Group cut Smart Sand from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $8.50 in a report on Thursday, July 20th. Piper Jaffray Companies reiterated a “buy” rating on shares of Smart Sand in a report on Thursday, September 21st. BidaskClub upgraded Smart Sand from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, Janney Montgomery Scott started coverage on Smart Sand in a report on Thursday, June 15th. They issued a “buy” rating and a $13.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $14.64.
Smart Sand (SND) traded down 3.85% during midday trading on Thursday, hitting $6.74. The stock had a trading volume of 624,625 shares. Smart Sand has a 12-month low of $5.82 and a 12-month high of $21.99. The firm has a 50-day moving average of $6.80 and a 200-day moving average of $6.80. The company has a market cap of $272.11 million and a PE ratio of 11.23.
Smart Sand (NYSE:SND) last posted its quarterly earnings results 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 company had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. Smart Sand’s revenue for the quarter was up 250.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. Equities research analysts forecast that Smart Sand will post $0.31 EPS for the current year.
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In other news, CEO Charles Edwin Young purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were 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 $728,308. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Kiszka purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $5.53 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders purchased 132,000 shares of company stock worth $685,960 over the last quarter.
Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in Smart Sand by 1,651.3% during the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock worth $101,000 after purchasing an additional 10,783 shares in the last quarter. American International Group Inc. acquired a new position in Smart Sand during the first quarter worth $116,000. Nationwide Fund Advisors lifted its stake in Smart Sand by 28.6% during the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after purchasing an additional 1,597 shares in the last quarter. Wall Street Access Asset Management LLC lifted its stake in Smart Sand by 19.6% during the second quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock worth $147,000 after purchasing an additional 2,705 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Smart Sand during the first quarter worth $156,000.
Smart Sand Company Profile
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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