U.S. Silica Holdings, Inc. (SLCA) Upgraded to “Buy” at Zacks Investment Research
U.S. Silica Holdings, Inc. (NYSE:SLCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $31.00 target price on the mining company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.63% from the stock’s current price.
According to Zacks, “Estimates for the third quarter for U.S. Silica have been going up of late. U.S. Silica remains focused on making strategic investments and pursuing earnings-accretive acquisitions. It is also focusing on preserving capital, reducing costs, improving customer satisfaction and boosting its market position.”
Several other brokerages have also recently weighed in on SLCA. BidaskClub cut U.S. Silica Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC restated a “buy” rating and set a $45.00 target price (down from $65.00) on shares of U.S. Silica Holdings in a report on Wednesday, August 2nd. ValuEngine cut U.S. Silica Holdings from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Barclays PLC restated an “equal weight” rating and set a $45.00 target price on shares of U.S. Silica Holdings in a report on Wednesday, August 2nd. Finally, Credit Suisse Group set a $41.00 target price on U.S. Silica Holdings and gave the stock a “buy” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $49.03.
Shares of U.S. Silica Holdings (SLCA) traded up 1.33% during midday trading on Tuesday, reaching $28.14. The company’s stock had a trading volume of 450,408 shares. The stock’s 50 day moving average price is $29.71 and its 200 day moving average price is $33.25. U.S. Silica Holdings has a one year low of $24.26 and a one year high of $61.49. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 160.80 and a beta of 2.32.
U.S. Silica Holdings (NYSE:SLCA) last issued its earnings results on Monday, July 31st. The mining company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The business had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $316.43 million. U.S. Silica Holdings had a return on equity of 1.92% and a net margin of 1.60%. The business’s revenue for the quarter was up 148.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) EPS. Analysts predict that U.S. Silica Holdings will post $1.53 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in U.S. Silica Holdings by 3.0% in the second quarter. BlackRock Inc. now owns 9,350,646 shares of the mining company’s stock valued at $331,854,000 after purchasing an additional 274,356 shares during the period. Vanguard Group Inc. raised its position in U.S. Silica Holdings by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,191,404 shares of the mining company’s stock valued at $255,223,000 after purchasing an additional 114,029 shares during the period. State Street Corp raised its position in U.S. Silica Holdings by 35.4% in the second quarter. State Street Corp now owns 2,663,238 shares of the mining company’s stock valued at $94,554,000 after purchasing an additional 696,893 shares during the period. Van Berkom & Associates Inc. raised its position in U.S. Silica Holdings by 111.1% in the second quarter. Van Berkom & Associates Inc. now owns 1,777,081 shares of the mining company’s stock valued at $63,069,000 after purchasing an additional 935,430 shares during the period. Finally, Bank of New York Mellon Corp raised its position in U.S. Silica Holdings by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 1,320,366 shares of the mining company’s stock valued at $46,860,000 after purchasing an additional 94,769 shares during the period.
About U.S. Silica Holdings
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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