Hi-Crush Partners LP (HCLP) Receives Average Rating of “Buy” from Analysts
Shares of Hi-Crush Partners LP (NYSE:HCLP) have been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.58.
HCLP has been the subject of several research reports. Cowen and Company set a $12.00 target price on Hi-Crush Partners and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BidaskClub raised Hi-Crush Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research cut Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. UBS Group AG reduced their target price on Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Janney Montgomery Scott initiated coverage on Hi-Crush Partners in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $10.00 target price for the company.
A number of institutional investors have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC raised its stake in Hi-Crush Partners by 69.5% during the third quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock worth $7,563,000 after acquiring an additional 326,414 shares in the last quarter. Mizuho Securities USA LLC acquired a new position in Hi-Crush Partners during the third quarter worth $228,000. Valicenti Advisory Services Inc. raised its stake in Hi-Crush Partners by 6.1% during the third quarter. Valicenti Advisory Services Inc. now owns 131,425 shares of the basic materials company’s stock worth $1,249,000 after acquiring an additional 7,500 shares in the last quarter. CAPROCK Group Inc. acquired a new position in Hi-Crush Partners during the third quarter worth $190,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Hi-Crush Partners by 70.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 112,370 shares of the basic materials company’s stock worth $1,219,000 after acquiring an additional 46,378 shares in the last quarter. Hedge funds and other institutional investors own 50.53% of the company’s stock.
Shares of Hi-Crush Partners (NYSE HCLP) opened at 9.575 on Thursday. Hi-Crush Partners has a 1-year low of $7.25 and a 1-year high of $23.30. The firm’s 50-day moving average is $9.36 and its 200 day moving average is $10.80. The company’s market cap is $871.61 million.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The firm 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%. Hi-Crush Partners’s quarterly revenue was up 251.9% compared to the same quarter last year. During the same period last year, the business earned ($0.26) earnings per share. Equities analysts expect that Hi-Crush Partners will post $1.00 EPS for the current fiscal year.
Hi-Crush Partners declared that its board has initiated a stock repurchase program on Tuesday, October 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.60 annualized dividend and a yield of 6.25%.
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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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